Info Edge (India) Ltd. , a prominent player in the Indian internet and technology sector, recently completed a significant block trade on the National Stock Exchange (NSE). The transaction, valued at Rs. 96.15 crore, marks a notable development in the company's trading activity.

Transaction Details

The block trade involved approximately 716,966 shares of Info Edge, which were traded at a price of Rs. 1,341.00 per share. This substantial transaction underscores the continued interest in Info Edge's stock among institutional investors and large traders.

Market Impact

Block trades of this magnitude often attract attention in the financial markets as they can indicate shifts in institutional holdings or strategic moves by large investors. While the specific parties involved in this transaction have not been disclosed, such trades can sometimes provide insights into market sentiment surrounding the stock.

About Info Edge (India) Ltd.

Info Edge is well-known for its diverse portfolio of internet-based businesses. The company operates popular platforms such as Naukri.com, 99acres.com, and Jeevansathi.com, among others. Info Edge has also made strategic investments in various startups, positioning itself as a key player in India's digital ecosystem.

This block trade comes at a time when the technology and internet sectors continue to evolve rapidly in India. As one of the country's leading online classifieds companies, Info Edge's stock movements are closely watched by investors and market analysts alike.

Investors and market participants will likely keep a close eye on any potential impact this block trade might have on Info Edge's stock price and trading volume in the coming days.

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.