Quarter ended Sep 2021 compared with Quarter ended Sep 2020.

Net sales (including other operating income) of Info Edge (India) has increased 39.54% to Rs 364.07 crore.  Sales of Recruitment Solutions segment has gone up 44.77% to Rs 271.31 crore (accounting for 74.52% of total sales).  Sales of 99acres for Real Estate segment has gone up 32.83% to Rs 48.27 crore (accounting for 13.26% of total sales).  Sales of Others segment has gone up 19.73% to Rs 44.49 crore (accounting for 12.22% of total sales).  

Profit before interest, tax and other unallocable items (PBIT) has jumped 109.48% to Rs 96.12 crore.  PBIT of Recruitment Solutions segment rose 52.05% to Rs 143.31 crore (accounting for 149.10% of total PBIT).  PBIT of 99acres for Real Estate segment rose 134.41% to Rs -24.87 crore (accounting for -25.87% of total PBIT).  PBIT of Others segment fell 40.88% to Rs -22.33 crore (accounting for -23.23% of total PBIT).  

PBIT margin of Recruitment Solutions segment rose from 50.29% to 52.82%.  PBIT margin of 99acres for Real Estate segment fell from negative 29.19% to negative 51.51%.  PBIT margin of Others segment rose from negative 101.63% to negative 50.18%.  Overall PBIT margin rose from 17.59% to 26.40%.  

Operating profit margin has jumped from 19.19% to 27.74%, leading to 101.68% rise in operating profit to Rs 100.98 crore.  Employee cost decreased from 53.98% to 47.99%.   Other expenses fell from 26.83% to 24.28%.   Selling and administration expenses fell from 19.32% to 16.98%.   Other direct service cost fell from 2.59% to 2.37%.   

Other income rose 57.68% to Rs 45.68 crore.  PBIDT rose 85.55% to Rs 146.66 crore.  Provision for interest fell 16.11% to Rs 1.25 crore.  Loan funds declined from Rs 68.86 crore as of 30 September 2020 to Rs 55.93 crore as of 30 September 2021.  Sundry debtors were higher at Rs 11.68 crore as of 30 September 2021 compared to Rs 8.05 crore as of 30 September 2020.  Cash and bank balance declined from Rs 1,972.77 crore as of 30 September 2020 to Rs 151.14 crore as of 30 September 2021.  Investments rose to Rs 18,194.60 crore as of 30 September 2021 from Rs 1,242.27 crore as of 30 September 2020 .  

PBDT rose 87.50% to Rs 145.41 crore.  Provision for depreciation rose 1.83% to Rs 12.79 crore.  Fixed assets increased to Rs 158.60 crore as of 30 September 2021 from Rs 141.43 crore as of 30 September 2020.  Intangible assets increased from Rs 81.56 crore to Rs 126.54 crore.  

Profit before tax grew 104.06% to Rs 132.62 crore.  Share of profit/loss was 31.65% higher at Rs -66.02 crore.  Extraordinary items were increased to Rs 8,269.25 crore.  Provision for tax was expense of Rs 966.5 crore, compared to Rs 14.4 crore.  Effective tax rate was 11.59% compared to 4.21%.

Net profit attributable to owners of the company increased 2,147.12% to Rs 7,371.23 crore.  

Year-to-date (YTD) results analysis.

Net sales (including other operating income) of Info Edge (India) has increased 26.63% to Rs 691.33 crore.  Sales of Recruitment Solutions segment has gone up 27.75% to Rs 501.46 crore (accounting for 72.54% of total sales).  Sales of 99acres for Real Estate segment has gone up 23.62% to Rs 97.44 crore (accounting for 14.10% of total sales).  Sales of Others segment has gone up 23.90% to Rs 92.43 crore (accounting for 13.37% of total sales).  

Profit before interest, tax and other unallocable items (PBIT) has jumped 31.28% to Rs 190.62 crore.  PBIT of Recruitment Solutions segment rose 26.08% to Rs 263.54 crore (accounting for 138.25% of total PBIT).  PBIT of 99acres for Real Estate segment rose 175.87% to Rs -27.80 crore (accounting for -14.58% of total PBIT).  PBIT of Others segment fell 16.05% to Rs -45.12 crore (accounting for -23.67% of total PBIT).  

PBIT margin of Recruitment Solutions segment fell from 53.25% to 52.55%.  PBIT margin of 99acres for Real Estate segment fell from negative 12.78% to negative 28.53%.  PBIT margin of Others segment rose from negative 72.05% to negative 48.82%.  Overall PBIT margin rose from 26.60% to 27.57%.  

Operating profit margin has jumped from 28.22% to 28.88%, leading to 29.57% rise in operating profit to Rs 199.64 crore.  Employee cost decreased from 50.31% to 48.09%.   Other expenses rose from 21.47% to 23.03%.   Selling and administration expenses rose from 13.96% to 15.59%.   Other direct service cost fell from 2.38% to 2.30%.   

Other income rose 86.65% to Rs 98.57 crore.  PBIDT rose 44.14% to Rs 298.2 crore.  Provision for interest fell 15.41% to Rs 2.59 crore.  Loan funds declined from Rs 68.86 crore as of 30 September 2020 to Rs 55.93 crore as of 30 September 2021.  Sundry debtors were higher at Rs 11.68 crore as of 30 September 2021 compared to Rs 8.05 crore as of 30 September 2020.  Cash and bank balance declined from Rs 1,972.77 crore as of 30 September 2020 to Rs 151.14 crore as of 30 September 2021.  Investments rose to Rs 18,194.60 crore as of 30 September 2021 from Rs 1,242.27 crore as of 30 September 2020 .  

PBDT rose 45.03% to Rs 295.62 crore.  Provision for depreciation fell 2.45% to Rs 24.67 crore.  Fixed assets increased to Rs 158.60 crore as of 30 September 2021 from Rs 141.43 crore as of 30 September 2020.  Intangible assets increased from Rs 81.56 crore to Rs 126.54 crore.  

Profit before tax grew 51.75% to Rs 270.95 crore.   Share of profit/loss was 73.65% higher at Rs -161.98 crore. Extraordinary items were increased to Rs 8,419.73 crore. Provision for tax was expense of Rs 1004.02 crore, compared to Rs 43.63 crore.  Effective tax rate was 11.77% compared to 9.38%.

Net profit attributable to owners of the company increased 1,684.14% to Rs 7,523.56 crore.  

Equity capital increased from Rs 128.39 crore as of 30 September 2020 to Rs 128.64 crore as of 30 September 2021.  Per share face Value remained same at Rs 10.00.  

Promoters' stake was 38.40% as of 30 September 2021 ,compared to 38.47% as of 30 September 2020 .  

Cash flow from operating activities increased to Rs 208.41 crore for YTD ended September 2021 from Rs 47.86 crore for YTD ended September 2020.  Cash flow used in acquiring fixed assets during the YTD ended September 2021 stood at Rs 9.17 crore, compared to Rs 3.26 crore during the YTD ended September 2020.  

Management Comment:

Commenting on the results, Mr. Chintan Thakkar, CFO said "We are excited to witness billing growth of 61.3% on YoY basis during the quarter, led by recruitment solutions 73.9%, 99 acres 45.9% and Shiksha 74.7%. As compared to pre-pandemic levels, i.e Q2FY20, Billing growth is 33.9%, led by recruitment Solutions 38.8% and 99acres 12.5%.