On consolidated basis
Quarter ended March 2022 compared
with Quarter ended March 2021.
Net sales (including other operating income) of Info Edge (India) has increased
57.38% to Rs 472.95 crore. Sales of Recruitment Solutions segment
has gone up 72.45% to Rs 360.64 crore (accounting for 76.25% of total
sales). Sales of 99acres for Real Estate segment has gone up 22.30%
to Rs 61.27 crore (accounting for 12.95% of total sales). Sales of
Others segment has gone up 23.59% to Rs 51.04 crore (accounting for 10.79% of
total sales).
Profit before interest, tax and
other unallocable items (PBIT) has jumped 120.95% to Rs 118.68
crore. PBIT of Recruitment Solutions segment rose 111.32% to Rs
208.84 crore (accounting for 175.96% of total PBIT). PBIT of 99acres
for Real Estate segment fell 93.32% to Rs -36.29 crore (accounting for -30.58%
of total PBIT). PBIT of Others segment fell 104.51% to Rs -53.86
crore (accounting for -45.38% of total PBIT).
PBIT margin of Recruitment Solutions
segment rose from 47.26% to 57.91%. PBIT margin of 99acres for Real
Estate segment fell from negative 37.48% to negative 59.24%. PBIT
margin of Others segment fell from negative 63.77% to negative 105.52%. Overall
PBIT margin rose from 17.87% to 25.09%.
Operating profit margin has jumped
from 18.66% to 25.24%, leading to 112.80% rise in operating profit to Rs 119.36
crore. Employee cost decreased from 52.16% to 46.58%.
Other expenses fell from 29.18% to 28.18%. Selling and
administration expenses rose from 18.60% to 20.65%. Other direct
service cost fell from 2.64% to 1.86%.
Other income rose 261.28% to Rs
226.92 crore. PBIDT rose 191.24% to Rs 346.28
crore. Provision for interest fell 28.68% to Rs 0.97 crore. Loan
funds declined from Rs 64.92 crore as of 31 March 2021 to Rs 63.70 crore as of
31 March 2022. Sundry debtors were higher at Rs 30.02 crore as of 31
March 2022 compared to Rs 6.37 crore as of 31 March 2021. Cash and
bank balance declined from Rs 642.27 crore as of 31 March 2021 to Rs 368.29
crore as of 31 March 2022. Investments rose to Rs 15,614.19 crore as
of 31 March 2022 from Rs 2,324.44 crore as of 31 March 2021 .
PBDT rose 193.78% to Rs 345.31
crore. Provision for depreciation rose 6.09% to Rs 11.5
crore. Fixed assets increased to Rs 131.03 crore as of 31 March 2022
from Rs 130.37 crore as of 31 March 2021. Intangible assets
increased from Rs 3.69 crore to Rs 901.51 crore.
Profit before tax grew 212.85% to Rs
333.81 crore. Share of profit/loss was 95.61% lower at Rs -48.08
crore. Extraordinary items were increased to Rs 474.58
crore. Provision for tax was expense of Rs 40.7 crore, compared to
Rs 121.69 crore. Effective tax rate was 5.35% compared to 28.15%.
Minority interest increased
4,803.78% to Rs 90.72 crore. Net profit attributable to owners of
the company increased 103.73% to Rs 628.89 crore.
Equity capital increased from Rs
128.52 crore as of 31 March 2021 to Rs 128.71 crore as of 31 March
2022. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 38.17% as of 31
March 2022 ,compared to 38.41% as of 31 March 2021 .
Full year results analysis.
Net sales (including other operating income) of Info Edge (India) has increased
40.87% to Rs 1589.03 crore. Sales of Recruitment Solutions segment
has gone up 47.69% to Rs 1,182.03 crore (accounting for 74.39% of total
sales). Sales of 99acres for Real Estate segment has gone up 25.06%
to Rs 217.32 crore (accounting for 13.68% of total sales). Sales of
Others segment has gone up 23.28% to Rs 189.68 crore (accounting for 11.94% of
total sales).
Profit before interest, tax and
other unallocable items (PBIT) has jumped 59.76% to Rs 429.03
crore. PBIT of Recruitment Solutions segment rose 59.19% to Rs
656.92 crore (accounting for 153.12% of total PBIT). PBIT of 99acres
for Real Estate segment fell 150.99% to Rs -89.59 crore (accounting for -20.88%
of total PBIT). PBIT of Others segment fell 27.56% to Rs -138.30
crore (accounting for -32.24% of total PBIT).
PBIT margin of Recruitment Solutions
segment rose from 51.56% to 55.58%. PBIT margin of 99acres for Real
Estate segment fell from negative 20.54% to negative 41.22%. PBIT
margin of Others segment fell from negative 70.47% to negative 72.91%. Overall
PBIT margin rose from 23.81% to 27.00%.
Operating profit margin has jumped
from 24.93% to 27.64%, leading to 56.17% rise in operating profit to Rs 439.24
crore. Employee cost decreased from 50.30% to 46.97%.
Other expenses rose from 24.77% to 25.39%. Selling and
administration expenses rose from 16.19% to 18.00%. Other direct
service cost fell from 2.52% to 2.14%.
Other income rose 194.75% to Rs
440.36 crore. PBIDT rose 104.25% to Rs 879.6
crore. Provision for interest fell 19.69% to Rs 4.65
crore. Loan funds declined from Rs 64.92 crore as of 31 March 2021
to Rs 63.70 crore as of 31 March 2022. Sundry debtors were higher at
Rs 30.02 crore as of 31 March 2022 compared to Rs 6.37 crore as of 31 March
2021. Cash and bank balance declined from Rs 642.27 crore as of 31
March 2021 to Rs 368.29 crore as of 31 March 2022. Investments rose
to Rs 15,614.19 crore as of 31 March 2022 from Rs 2,324.44 crore as of 31 March
2021 .
PBDT rose 105.94% to Rs 874.95
crore. Provision for depreciation rose 0.25% to Rs 44.91
crore. Fixed assets increased to Rs 131.03 crore as of 31 March 2022
from Rs 130.37 crore as of 31 March 2021. Intangible assets
increased from Rs 3.69 crore to Rs 901.51 crore.
Profit before tax grew 118.40% to Rs
830.04 crore. Extraordinary items were increased to Rs 11,174.71
crore. Provision for tax was expense of Rs 1317.88 crore, compared
to Rs 184.28 crore. Effective tax rate was 9.28% compared to 11.50%.
Minority interest increased
7,031.40% to Rs 122.66 crore. Net profit attributable to owners of
the company increased 800.90% to Rs 12,759.57 crore.
Equity capital increased from Rs
128.52 crore as of 31 March 2021 to Rs 128.71 crore as of 31 March
2022. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 38.17% as of 31
March 2022 ,compared to 38.41% as of 31 March 2021 .
Dividend : The Board of Directors
have recommended a dividend of Rs 5/- per equity share.
Management Comment:
Commenting
on the results, Mr Hitesh Oberoi, Managing Director and Chief Executive
Officer, Info Edge(India) said“We are experiencing strong tailwinds in
recruitment and real estate verticals. Post pandemic the gap between supply and
demand of skills has increased globally. We expect this trend to continue in
mid to long term and will create demand for platforms like naukri. ”
Mr.
Chintan Thakkar, Whole Time Director and CFO said “Outstanding growth in
billing, revenues, profitability and cash from operations. Naukri business has
placed the company on a solid platform of consistent profitable growth. ”
| Info Edge (India) : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202203 | 202103 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 472.95 | 300.52 | 57.38 | 1,589.03 | 1,128.00 | 40.87 | | OPM (%) | 25.24 | 18.66 | 657 bps | 27.64 | 24.93 | 271 bps | | OP | 119.36 | 56.09 | 112.80 | 439.24 | 281.25 | 56.17 | | Other Inc. | 226.92 | 62.81 | 261.28 | 440.36 | 149.40 | 194.75 | | PBIDT | 346.28 | 118.90 | 191.24 | 879.60 | 430.65 | 104.25 | | Interest | 0.97 | 1.36 | -28.68 | 4.65 | 5.79 | -19.69 | | PBDT | 345.31 | 117.54 | 193.78 | 874.95 | 424.86 | 105.94 | | Depreciation | 11.5 | 10.84 | 6.09 | 44.91 | 44.8 | 0.25 | | PBT | 333.81 | 106.70 | 212.85 | 830.04 | 380.06 | 118.40 | | Share of Profit/(Loss) from Associates | -48.08 | -24.58 | -95.61 | 2195.36 | -211.87 | LP | | PBT before EO | 285.73 | 82.12 | 247.94 | 3025.4 | 168.19 | 1,698.80 | | EO Income | 474.58 | 350.11 | 35.55 | 11174.71 | 1434.12 | 679.20 | | PBT after EO | 760.31 | 432.23 | 75.90 | 14200.11 | 1602.31 | 786.23 | | Taxation | 40.7 | 121.69 | -66.55 | 1317.88 | 184.28 | 615.15 | | PAT | 719.61 | 310.54 | 131.73 | 12882.23 | 1418.03 | 808.46 | | Minority Interest (MI) | 90.72 | 1.85 | 4,803.78 | 122.66 | 1.72 | 7,031.40 | | Net profit | 628.89 | 308.69 | 103.73 | 12759.57 | 1416.31 | 800.90 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 628.89 | 308.69 | 103.73 | 12759.57 | 1416.31 | 800.90 | | EPS (Rs)* | 17.94 | 4.13 | 334.50 | 226.83 | 10.02 | 2,164.20 | | | * EPS is on current equity of Rs 128.98 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
|
| Info Edge (India) : Consolidated Segment Results | | | Quarter ended | Year ended |
|---|
| % of (Total) | 202203 | 202103 | Var.(%) | % of (Total) | 202203 | 202103 | Var.(%) |
|---|
| Sales | | Recruitment Solutions | 76.25 | 360.64 | 209.13 | 72.45 | 74.39 | 1,182.03 | 800.37 | 47.69 | | 99acres for Real Estate | 12.95 | 61.27 | 50.09 | 22.30 | 13.68 | 217.32 | 173.78 | 25.06 | | Others | 10.79 | 51.04 | 41.30 | 23.59 | 11.94 | 189.68 | 153.86 | 23.28 | | Total Reported Sales | 100.00 | 472.95 | 300.52 | 57.37 | 100.00 | 1,589.03 | 1,128.00 | 40.87 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 472.95 | 300.52 | 57.37 | 100.00 | 1,589.03 | 1,128.00 | 40.87 | | PBIT | | Recruitment Solutions | 175.96 | 208.84 | 98.83 | 111.32 | 153.12 | 656.92 | 412.66 | 59.19 | | 99acres for Real Estate | -30.58 | -36.29 | -18.77 | -93.32 | -20.88 | -89.59 | -35.70 | -150.99 | | Others | -45.38 | -53.86 | -26.34 | -104.51 | -32.24 | -138.30 | -108.43 | -27.56 | | Total PBIT | 100.00 | 118.68 | 53.72 | 120.95 | 100.00 | 429.03 | 268.54 | 59.76 | | Less : Interest | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Add: Other un-allcoable | | 641.63 | 378.52 | 69.51 | | 13,771.09 | 1,333.77 | 932.49 | | PBIT Margin(%) | | Recruitment Solutions | | 57.91 | 47.26 | 1,065.14 | | 55.58 | 51.56 | 401.70 | | 99acres for Real Estate | | -59.24 | -37.48 | -2,176.25 | | -41.22 | -20.54 | -2,068.40 | | Others | | -105.52 | -63.77 | -4,175.24 | | -72.91 | -70.47 | -244.18 | | PBT | 100.00 | 760.31 | 432.23 | 75.90 | 100.00 | 14,200.11 | 1,602.31 | 786.23 |
|
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