Info Edge (India) Limited reported steady revenue growth and moderate profit expansion in the first quarter, as its core recruitment business faced headwinds while non-recruitment segments showed resilience.

Financial Highlights

The company's standalone revenue from operations grew 15.3% year-over-year to ₹736.40 crore, compared to ₹638.90 crore in the same quarter last year. Billings, which indicate future revenue potential, increased 11.2% to ₹644.20 crore.

Operating profit reached ₹250.20 crore with a margin of 34.0%. Net profit for the quarter was ₹259.60 crore, resulting in earnings per share of ₹4.01. The company maintained a strong cash balance of ₹4,828.00 crore.

Segment Performance

Recruitment Solutions

The recruitment business, which includes Naukri.com, saw billings growth of 9.0% year-over-year.

Non-Recruitment Portfolio

The non-recruitment portfolio, comprising 99acres, Jeevansathi, and Shiksha, recorded combined growth of 17.6%.

Management Commentary

Management noted that the recruitment segment was impacted by geopolitical headwinds and sectoral slowdown towards the quarter-end, while non-recruitment businesses continued to progress with reduced cash losses.

Dividend

The Board recommended a final dividend of ₹3.60 per equity share, subject to shareholder approval.

Outlook

While Info Edge demonstrated resilience in its diversified portfolio, the moderation in its core recruitment business growth suggests potential challenges. The company's strong cash position and continued investments in non-recruitment verticals indicate a strategy to balance growth across segments in the face of uncertain macroeconomic conditions.

Info Edge (India) Limited , a leading Indian tech company, has announced a significant development in its venture investment arm. IE Venture Investment Fund III, sponsored by Smartweb Internet Services Limited, a wholly-owned subsidiary of Info Edge, has secured a substantial commitment from Greenland INR Holdings LLC.

Key Details of the Commitment

Terms and Conditions

The commitment is subject to certain conditions precedent, including:

• Completion of documentation to the satisfaction of both parties
• Fulfillment of other unspecified conditions

About the Fund

IE Venture Investment Fund III is a scheme of Karkardooma Trust, which is registered under the Indian Trusts Act, 1882. The fund has also secured registration with the Securities and Exchange Board of India (SEBI) as a Category II Alternative Investment Fund.

Corporate Disclosure

Info Edge (India) Limited, in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, has officially disclosed this development to the stock exchanges.

Looking Ahead

This commitment marks a significant milestone for IE Venture Investment Fund III. However, the finalization of this agreement is contingent upon meeting the specified conditions. The successful closure of this commitment could potentially bolster the fund's investment capabilities and contribute to Info Edge's broader strategy in the venture capital space.

Investors and market watchers will likely keep a close eye on how this development unfolds and its potential impact on Info Edge's future growth and investment strategies in the dynamic Indian tech ecosystem.