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- 06 Feb 2025
- ICICIdirect Research
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INFO EDGE REPORTED REVENUES OF ₹671.5 CRORE
NAUKRI - 6383 Change: -124.65 (-1.92 %)News: Info edge reported revenues of ₹671.5 crore, up 2.4% QoQ/ 13% YoY. Recruitment business (75.2% of the mix) reported a revenue of ₹505 crore, up 2% QoQ/ 12% YoY. Its 99 acres business (15.5% of the mix) reported revenues of ₹104 crore, up 2% QoQ/17.4% YoY. The Other Vertical business (9.3% of the mix) reported revenue of ₹62.4 crore, up 5.5% QoQ/ 11.3% YoY wherein, Jeevansathi reported revenues of ₹27 crore, up 3.4% QoQ and Shiksha revenues came in at ₹35 crore, up 7.3% QoQ. Billings on a YoY basis saw broad based growth across segments with recruitment business, 99 acres, Jeevansathi and Education recording an uptick of 15%, 16% 36% and 12% respectively. The total billings for the quarter were up by 16% YoY. EBITDA margins for the recruitment business came in at 58.9%, up ~130 bps QoQ. The Others business margins declined by ~1000 bps to -22.1%. Infoedge's adjusted PAT for the quarter came at ₹259.5 (before considering an exceptional item loss of ₹59.3 crore), while the reported PAT for the quarter stood at ₹200.2 crore.
View: Infoedge reported a decent quarter on the revenues and margin front, despite Q3 being a seasonally weak quarter, especially for their IT recruitment business. On the recruitment business front, the company is tapping into tier 2 and 3 cities which in turn will help them in generating increased revenues. Real Estate business (99 acres) of the company is seeing reduced EBITDA losses on account of reduced marketing spends. Whereas on the Matrimony business front, the company increased their marketing spends by ₹5 crore, sequentially and is building more ways to monetize platform traffic. The Shiksha business losses contracted for the second consecutive quarter. Going forward, any new product launches will aid the company in generating higher revenues. The company’s ability to turn its other business verticals (Shiksha, Jeevansathi) and 99 acres profitable will be a key focus area.
Impact: Neutral