Naukri.com parent Info Edge climbs 5% in trade; What's boosting the rally?

Info Edge declared an interim dividend of Rs 12 per share and fixed the record date as Wednesday, November 20, 2024

Info Edge (India), parent company of Naukri.com, shares gained 5.4 per cent on Monday (November 11) and registered an intraday high of Rs 7,964.25 per share on BSE. The buying in the stock came after the company reported Q2 results and declared an interim dividend.

 

Around 10:47 AM, Info Edge shares were up 5.37 per cent at Rs 8073.25 per share on BSE. In comparison, the BSE Sensex was up 0.52 per cent at 79,903.07. The market capitalisation of the company stood at Rs 1,04,616.5 crore. The 52-week high of the stock was at Rs 8,463 per share on BSE and 52-week low of the stock was at Rs 4,473.2 per share.

 

 

On Friday, during market hours, Info Edge reported a 62 per cent rise in consolidated profit before tax (PBT) to Rs 50 crore in Q2 as compared to Rs 30.84 crore a year ago. However, profit after tax (PAT) declined 65 per cent to Rs 8.47 crore as compared to Rs 23.97 crore a year ago. 

 

The decline in PAT was due to the deferred tax charge relating to an unrealised gain on the exceptional item in the earlier year of Rs 32.056 crore during the quarter. 

 

The company's revenue for the second quarter stood at Rs 70.08 crore as compared to Rs 62.58 crore a year ago which implies an increase of 12 per cent.

 

The total income of the company for the quarter under review stood at Rs 91.49 crore as compared to Rs 79.2 crore a year ago. 

Info Edge dividend 2024

The company declared an interim dividend of Rs 12 per share and fixed the record date as Wednesday, November 20, 2024.

 

The record date is the specific day on which a company finalises the list of shareholders eligible for its forthcoming dividend distribution.

 

The company's board also approved an investment of Rs 20 crore in Jeevansathi Internet Services Private Limited, a subsidiary of the company. 

 

As per the filing, this investment would help Jeevansathi to explore investment opportunities and other general purposes.

 

Info Edge India Limited is an internet-based services company, best known for its portfolio of successful online businesses in various sectors, including recruitment, real estate, education, and matrimonial services. Founded in 1995, Info Edge has established itself as a key player in the Indian digital ecosystem, driving the growth of online services across multiple industries.

 

In the past one year, Info Edge shares have gained 69.6 per cent against Sensex's rise of 22 per cent.