Info Edge India Ltd (NAUKRI:NSI), the Indian job board, reported standalone revenue from operations for the first quarter ended 31 March 2020 of INR 3.22 billion (USD 42.5 million), up 10.3% compared to the same period last year.
The company also recorded a decrease in billings of 8% during the quarter. Lower billings and higher costs dragged down margin growth. The firm also saw an increase in employee and other costs.
Profit before exceptional items and tax declined by 11.5% compared to the same period last year while a number of exceptional items meant that net profit slipped 37.2% during the quarter.
|(INR millions)||Q4 2020||Q4 2019||Change||Q4 2020 (USD millions)|
|Net Revenue from Operations||3,228.1||2,926.5||10.3%||42.5|
|Profit before exceptional items and tax||1,034.2||1,168.1||-11.5%||13.6|
Info Edge runs job site Naukri.com as well as 99acres.com. The company also runs Jeevansathi.com, a matrimonial portal, Shiksha.com an education portal as well as Quadrangle, an offline executive search business, and Naukri Gulf.
Segment by Revenue
|(INR millions)||Q4 2019||Q4 2019||Change||Q4 2020 (USD millions)|
|99 acres for real estate||563.5||544.1||3.5%||7.4|
The group also published its full-year results.
|(INR millions)||FY 2020||FY 2019||Change||FY 2020 (USD millions)|
|Net Revenue from Operations||12,726.9||10,982.5||15.8%||167.8|
Chintan Thakkar, CFO of Info Edge said “We continue to evaluate the unfolding situation of pandemic. The billings were growing around 13% till mid of March in FY’20 Q4 and it took a hit in the last two weeks of the quarter. Work from home and business continuity plan is operating satisfactorily.”
In trading yesterday Info Edge shares closed at INR 2,769.25 (USD 36.53), up 5.66% on the day and 11.53% below its 52-week high of INR 3,130.00 (USD 41.29), set on 7 February 2020. Based on its current share price the company has a market value of INR 327.35 billion (USD 4.31 billion).