Info Edge Reports Strong Growth in Q4 FY24

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Info Edge Reports Strong Growth in Q4 FY24

Team Finance Saathi

08/Apr/2024

Key Points:

Info Edge, an IT company, released its Q4 FY24 business update showing a 5.48% YoY growth in standalone billings.
The recruitment solution segment, including Naukri.com, experienced steady growth, while the real estate arm also saw significant improvement.
Quarterly standalone billings surged over 10%, indicating a robust performance in the last quarter of FY24.

Info Edge, a leading IT company, has recently unveiled its fourth-quarter business update for the fiscal year 2023-24, showcasing promising growth and performance metrics. The company reported a noteworthy 5.48% year-on-year increase in standalone billings for Q4 FY24, amounting to ₹2495.9 crore compared to ₹2366.3 crore in the corresponding period last year. This surge reflects the company's resilience and adaptability in navigating the evolving market dynamics.

Quarterly Performance Highlights

Breaking down the quarterly performance, Info Edge demonstrated a remarkable surge of over 10% in standalone billings for the quarter ending March 31, 2024. The figures soared to ₹826.9 crore, marking a significant increase from ₹748.6 crore reported during the same period the previous year. This substantial growth underscores the company's robust operational strategies and effective execution.

Segment-Wise Analysis

In terms of segment performance, Info Edge's recruitment solution segment, encompassing flagship platforms like Naukri.com and iimjobs.com, exhibited steady growth. Standalone billings for this segment reached ₹1883.2 crore for the fiscal year ending March 31, 2024, reflecting a moderate 1.81% year-on-year increase. Notably, the segment also witnessed a commendable 7.1% quarter-to-quarter growth, indicating sustained momentum and market traction.

Moreover, Info Edge's real estate arm showcased notable improvement, with standalone billings amounting to ₹385.1 crore for the fiscal year FY24, compared to ₹311.6 crore in the previous year. This robust performance underscores the company's diversified portfolio and its ability to capitalize on emerging opportunities across different sectors.

Additionally, the 'Other' segment of Info Edge reported standalone billings of ₹227.5 crore for FY24, marking a substantial increase from ₹196 crore in FY23. This segment's performance underscores Info Edge's commitment to exploring new avenues and expanding its revenue streams beyond its core offerings.

Financial Performance Overview

In the preceding quarter, Info Edge experienced a 6.4% increase in total revenue, amounting to ₹627.1 crore. The billing for the December quarter surged by 4.8% year over year, reaching ₹576.9 crore, indicating a consistent growth trajectory and operational efficiency.

Market Performance

Amidst these positive financial indicators, Info Edge's stock performance remains robust, with shares closing 0.54% higher at ₹5,658.55. Over the last six months, Info Edge stock has gained over 34.29%, reflecting investor confidence in the company's growth prospects and strategic initiatives. Moreover, the stock has witnessed a significant appreciation of 51.49% over the last one year, further underlining its strong market position and growth trajectory.

In conclusion, Info Edge's fourth-quarter business update for FY24 showcases impressive growth across its key segments, reaffirming its position as a market leader in the IT industry. With a strong focus on innovation, diversification, and customer-centricity, Info Edge is well-positioned to capitalize on emerging opportunities and drive sustainable growth in the years ahead.

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Info Edge Reports Strong Growth in Q4 FY24

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