Info Edge reported its unaudited atandalone and consolidated financial results for the quarter ended 30 June 2024. Info Edge (India) recorded 9.3 per cent growth in its Revenue from Operations at Rs 638.9 crore on a standalone basis for the quarter ended June 30th, 2024, compared to Rs 584.3 crore in the corresponding quarter of the previous fiscal.
The recruitment business continued the uptick in Q1, whereas non-recruitment businesses also continued to grow with reduced operating losses. Revenues growth in the recruitment business was 5.6 per cent year on year and for non-recruitment business verticals namely 99acres (the real estate vertical), Jeevansathi (the matrimony business), and Shiksha (the education business) was 19.5 per cent, 34.7 per cent, and 18.4 per cent respectively. Billings for the company on a standalone basis for the quarter grew by 10.8 per cent year on year and stood at Rs 579.3 crore.
The company maintained its operating profit margins at 35.6 per cent of revenue and registered a growth of 8.8 per cent in its operating profit which stood at Rs 227.3 crore on a standalone basis in Q1FY25 as compared to Rs 208.9 crore in Q1FY24. The standalone business generated cash from operation (before taxes)
of Rs 173.9 crore for the quarter, a growth of 20.2 per cent YoY.
While announcing the results, Hitesh Oberoi, Managing Director and Chief Executive Officer said “Cash losses from our non-recruitment businesses have decreased by 73 per cent to Rs. 16.5 crore in Q1FY25, driven by an 18 per cent YoY increase in billings and controlled cost increases. Our matchmaking business, Jeevansathi, is nearing breakeven in Q1. The core recruitment business, which experienced several weak quarters last fiscal year, continued to demonstrate growth in Q1 as well.”
Chintan Thakkar, Director and Chief Financial Officer said “Despite the challenging environment, we generated approximately Rs. 174 crore of cash from operations in Q1FY25, representing a YoY growth of over 20 per cent. As of June 30th, 2024, our cash balance stood at Rs. 4,255 crore, underscoring the strength of our balance sheet. This consistent cash flow generation highlights our company's robust financial health and establishes a solid foundation for future investments and shareholder returns.”
