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Info Edge: Billings increase 19% over previous quarter, revenue by 17% YoY

Info Edge (India) Limited clocked consolidated revenues of Rs. 277.6 crore, down 17% YoY and up 6% QoQ for the quarter ended December 31, 2020. Consolidated total income amounted to Rs 311.4 crore, which was down 13% YoY and up 8% QoQ. InfoEdge is an investor in food delivery company Zomato as well as in insurance platform PolicyBazaar.

Billings for the quarter stood at Rs 297 crore, recovering 19% over the previous quarter and remaining flat over the previous year. Recruitment and 99acres are nearing pre-pandemic levels on a YoY basis. Chintan Thakkar, CFO, Info Edge said. Consolidated Net Profit stood at Rs 679 crore, a drastic improvement from losses of Rs 62.1 crore in the same quarter the previous year. Net Profit also doubled from Rs 328 crore in the previous quarter.

Recruitment

  • Revenue: Rs 194.9 crore, down 17% YoY and up 4% QoQ
  • Profit: Rs 100.9 crore, down 21% YoY and up 7% QoQ

99Acres

  • Revenue: Rs 44.8 crore, down 23% YoY and up 23% QoQ
  • Loss of Rs 6.8 crore, up 325% YoY and down 36% QoQ

‘Others’, consisting of Jeevansathi and Shiksha 

  • Others: Rs 37.8 crore, flat YoY and 1.9% QoQ
  • Others: Loss of Rs 32 crore, flat YoY and down 15% QoQ

The company said that the impact of the Code on Social Security, 2020, which subsumes nine laws relating to social security, retirement, and employee benefits, including laws around provident fund and gratuity payments, will be assessed and recorded when it comes into effect.

  • Net Sales (Standalone Revenue): Rs 272.3 crore, down by 15%
  • Standalone Total Income: Rs 303.9 crore, down by 10.9% YoY
  • Operating EBITDA: Rs 68.2 crore, down by 35.6% YoY

Financials and Press Release

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