Info Edge Shares Surge 6% on 22% Jump in Q4 Net Profit
Info Edge Shares Rise 6% After Strong Q1 Results
Info Edge shares surged more than 6 percent on Friday, marking a significant increase in the company's stock value. The stock reached an intraday high of Rs 985 per share on the National Stock Exchange (NSE), a rise of 6.34 percent.
The company's financial performance for the March quarter was impressive, with a consolidated net profit of Rs 565.7 crore, representing a 22 percent rise from the same period last year. This is a significant improvement from the previous year's net profit of Rs 463.3 crore.
A closer look at the company's revenue and EBITDA reveals an even more compelling story. Revenue from operations rose 16 percent year-on-year to Rs 869 crore from Rs 750 crore, while EBITDA increased 34 percent to Rs 333 crore from Rs 248 crore a year earlier. As a result, the EBITDA margin improved to 38.3 percent from 33.1 percent.
Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data
The company's consumer internet platforms continue to show steady growth. 99acres, the real estate portal, posted a 36 percent revenue growth during the quarter and turned EBIT positive. Additionally, both 99acres and matrimonial platform Jeevansathi gained market share during the quarter.
| Q1 FY23 | Q1 FY22 | % Change | |
|---|---|---|---|
| Revenue from Operations (Rs crore) | 869 | 750 | 16% |
| EBITDA (Rs crore) | 333 | 248 | 34% |
| EBITDA Margin (%) | 38.3 | 33.1 | 15.6% |
Note: Figures are in Rs crore unless otherwise specified.
Investor Takeaway
Investors should consider Info Edge's strong Q4 performance and steady growth in its consumer internet platforms.
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