Info Edge: Q4 Billings Surge Driven by Recruitment Uptick and Robust Non-Recruitment Performance

Info Edge India Limited (NSE: Naukri, BSE: Naukri, 532777) reported its consolidated financial results for the quarter ended March 31st, 2024.

Info Edge (India) Limited recorded 7.9% growth in its Revenue from Operations at Rs 608.3 crore on a
standalone basis for the quarter ended March 31st, 2024, compared to Rs 564.0 crore in the
corresponding quarter of the previous fiscal. The recruitment business witnessed an uptick in Q4
performance whereas non-recruitment businesses continued to deliver robust performance.
Revenues growth in the recruitment business was 3.4% year on year and for non-recruitment business
verticals namely 99acres.com (the real estate vertical), Jeevansathi.com (the matrimony business),
and Shiksha.com (the education business) was 22.5%, 29.2%, and 22.2% respectively. Billing for the
company on a standalone basis for the quarter grew by 10.5% year on year and stood at Rs 826.9 Cr.

The company grew its operating profit margins to 37.0% of revenue and registered a growth of 8.9%
in its operating profit which stood at Rs 224.8 crore on a standalone basis in Q4FY24 as compared to
Rs 206.3 crore in Q4FY23. The standalone business generated cash from operation (before tax) of Rs
467.6 crore for the quarter, a growth of 13.2% YoY.

While announcing the results, Mr. Hitesh Oberoi, Managing Director and Chief Executive Officer said
“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 Rs. 198cr in FY23 to Rs. 68cr in FY24 with Rs. 21cr cash generation in Q4”

Mr. Chintan Thakkar, Director and Chief Financial Officer said “Our cash from operations grew by
13.2% year-over-year in Q4FY24, reaching a cash balance of Rs. 4,191cr 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.”

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