InfoEdge Released Q4 FY2024 Results: Revenue Surged ~8%

On May 16, 2024, Info Edge India Limited released its consolidated financial results for the quarter ended March 31, 2024.

For the quarter that ended on March 31, 2024, Info Edge (India) Limited reported a 7.9% increase in its Revenue from Operations, reaching ₹608.3 crore on a standalone basis, up from ₹564.0 crore in the equivalent period of the previous fiscal year.

While non-recruitment firms continued to produce strong results, the recruitment industry saw an increase in Q4 performance. The real estate vertical 99acres.com, the matrimonial business Jeevansathi.com, and the education business Shiksha.com saw revenue growth of 22.5%, 29.2%, and 22.2% year over year, respectively, while the recruiting business saw revenue growth of 3.4% year over year. Standalone billing for the company increased by 10.5% year over year during the quarter to ₹826.9 crore.

In Q4FY24, the company’s operational profit increased to ₹224.8 crore on a standalone basis, up 8.9% from ₹206.3 crore in Q4FY23. Its operating profit margins also increased to 37.0% of revenue. For the quarter, the standalone firm brought in cash from operations (before tax) of ₹467.6 crore, a 13.2% YoY increase.

“I’m encouraged to see a slight rebound in our recruitment business after several weak quarters. Excellent execution in both 99acres and Jeevansathi helped reduce operational losses in these verticals from ₹198 crore in FY23 to ₹68 crore in FY24 with ₹21 crore cash generation in Q4,” said Mr Hitesh Oberoi, Managing Director and Chief Executive Officer.

“Our cash from operations grew by 13.2% year-over-year in Q4FY24, reaching a cash balance of ₹4,191 crore as of March 31st, 2024. This consistent performance in cash flow generation underscores our company’s robust financial health and positions us well for future investments and shareholder returns,” said Mr Chintan Thakkar, Director and Chief Financial Officer.

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