- 31 Jan 2022
- ICICIdirect Research
Info Edge reports strong numbersNAUKRI - 4232 Change: 34.45 (0.82 %)
News: Revenue increased 14.7% QoQ to Rs.403.3 crore. Recruitment solutions increased 16.4% QoQ (up 57.5% YoY) to Rs.298.5 crore and 99 acres increased 21.4% QoQ (up 30.7% YoY) to Rs.58.6 crore. Other verticals dip 1.7% QoQ to Rs.46.1 crore , which we believe was mainly due to Jeevansaathi. EBITDA margins declined 240bps to 27.8% due to 14.6%/30.4% QoQ increase in employee as well as other expenses. InfoEdge reported PAT of Rs.329.1 crore, which includes Rs.217.1 crore one time gain which pertains to reversal of provision of diminution of carrying value in one of its investments. Adjusted PAT was Rs.111.3 crore.
Views: The company has seen continued traction in recruitment business due to unprecedented hiring seen in IT sector ( ~35% mix) which is expected to continue for few more quarters. In addition, the company has seen healthy improvement in billings as it increased 16.4% QoQ/57.6% YoY. Recovery in real estate business will also aid revenue growth forward.