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Info Edge reported revenues of ₹824.5 crore

ICICIdirect Research 11 Aug 2026 DISCLAIMER

News: Info Edge reported revenues of ₹824.5 crore, up 2.4% QoQ/12.0% YoY. Recruitment business (74% of the mix) reported revenue of ₹611.8 crore, up 5.2% QoQ/13.0% YoY. Its 99acres business (15.7% of the mix) reported revenues of ₹129.8 crore, down 9.7% QoQ/17.3% YoY, while the Other Vertical business (10% of the mix) reported revenue of ₹82.9 crore, up 3.5% QoQ/ down 1.4% YoY, wherein Jeevansathi reported revenues of ₹38.5 crore, up 6.9% QoQ/ 14.2% YoY, and Shiksha revenues came in at ₹44 crore, up 0.5% QoQ/ down 12% YoY. Standalone total billings grew 14.4% YoY to ₹737 crore, led by Recruitment, 99acres and Jeevansathi billings growth of 17.5%,16.5% and 14% respectively while Shiksha declined by 22.8% due to AI related traffic headwinds. EBITDA margins for the recruitment business came in at 58.3%, down ~190 bps QoQ while 99 acres reported negative EBITDA while Others vertical margin came in positive, albeit lower QoQ at 5.1%. Overall EBITDA margin came at 44%, up ~60 bps QoQ/ ~630 bps YoY. Reported PAT at ₹245.5 crore, was down 20.6% QoQ/ 5.4% YoY impacted by an exceptional item of ₹72 crore.

View: Info Edge delivered a stronger than expected Q1FY27, with improvement across its two largest businesses, Recruitment and 99acres, which together account for ~90% of billings. Recruitment growth was supported by better enterprise renewal rates, premium hiring and pricing, with GCC billings growing 31% YoY and Tech/IT/BPM growing 15%. Importantly, around one-third of recruitment growth came from newer monetisation initiatives including AI-Rex, Talent Pulse and other value-added offerings, providing incremental revenue opportunities. 99acres was another key positive, delivering 17% revenue/billings growth, strong traffic and supply gains and moving close to breakeven. Management expects the business to become cash generative in FY27, with easing competitive intensity and disciplined costs supporting operating leverage. On the other hand, Shiksha remains a near-term drag as AI-led changes in search behaviour and lower Google-referred traffic impacted client delivery. Overall, the quarter marks a meaningful improvement in Info Edge's growth trajectory, although the sustainability of recruitment volume growth and Shiksha's traffic headwinds remain key monitorables.

Impact: Positive

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