Info Edge Q1 Results: Net profit rises 35% to ₹200 crore; revenue up 15% YoY

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₹200 crore for the first quarter of FY24, registering a growth of 34.7% from ₹148 crore in the same quarter of previous fiscal. The company had posted a net loss of ₹503 crore in the March quarter (Q4FY23). Info Edge’s standalone revenue from operations in Q1FY24 increased 15.1% to ₹584.2 crore from ₹507.6 crore in the year-ago period.

The revenues for the quarter in the recruitment business grew 15.3% YoY, while the revenues in the real estate business grew 24.6% YoY. Billing for the quarter dropped marginally by 0.2% year on year and stood at ₹523 crore, Info Edge said. On a consolidated basis, Info Edge’s net profit dropped 50% YoY to ₹147.4 crore, while revenue rose 14% to ₹626 crore in the June quarter.

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At the operating level, earnings before interest, taxes, depreciation and amortization (EBITDA) during the quarter rose 39% to ₹226.6 crore from ₹163 crore, while EBITDA margin expanded to 38.8% from 32.1%, YoY. Despite the challenging environment in IT recruitment, growth in Billings and rationalization of spending in 99acres, Shiksha and Jeevansathi business contributed to generating around ₹145 crore of cash from operations in Q1FY24, Info Edge’s CFO and Whole Time Director Chintan Thakkar said. At 2:40 pm, Info Edge share price was