After its stock split announcement, Info Edge (India) on Wednesday released its fiscal third quarter earnings report. It posted a profit of Rs 288.42 crore during quarter, reporting a jump of 141.46 per cent in comparison to Rs 119.45 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 722.40 crore, up 15.19 per cent as against Rs 627.12 crore during the third quarter of previous financial year. Info Edge had, earlier today, announced that its board of directors has approved a stock split in the ratio of 1:5. This is the first-ever stock split bythe company. This means that one equity share of the company, having a face value of Rs 10 apiece, will be split into five equity shares having the face value of Rs 2 each, fully paid-up.
On standalone basis, Info Edge recorded 12.8 per cent growth in its revenue from operations at Rs 671.5 crore for the quarter ended December 31st, 2024. The recruitment business, it said, continued the uptick in Q3, whereas non-recruitment businesses also continued to grow with reduced operating losses.
Info Edge shares were up by 2.95 per cent at 3:15 pm to a trading price of Rs 7,931.70.
Billings for the company on a standalone basis for the quarter posted a growth of 15.8 per cent on-year and stood at Rs 668.3 crore. Billings growth in the recruitment business was 15.2 per cent YoY and for non-recruitment business verticals namely 99acres (the real estate vertical), Jeevansathi (the matrimony business), and Shiksha (the education business) was 16.0 per cent, 36.0 per cent, and 12.3 per cent respectively.
Hitesh Oberoi, Managing Director and Chief Executive Officer, said, “In Q3, we achieved 16 per cent billing growth, driven by consistent performance across all four verticals. Our recruitment business continued its growth trajectory across all segments, contributing to improved operating profits. Additionally, the non-recruitment businesses are also nearing breakeven, further strengthening our position for sustained growth.”
Chintan Thakkar, Director and Chief Financial Officer, said, “With an overall improvement in business performance, we witnessed 20 per cent year-over-year growth in standalone operating profits and 27 per cent year-over-year growth in cash generated from operations. As of December 31, 2024, our cash balance stood at Rs 4,290 crore, highlighting our strong financial position.”
Info Edge said that its employee count as of Dec 31, 2024 stood at 5,883.