On consolidated basis
Quarter ended June 2022 compared
with Quarter ended June 2021.
Net sales (including other operating
income) of Info Edge (India) has increased 67.23% to Rs 547.27
crore. Sales of Recruitment Solutions segment has gone up 74.02% to
Rs 400.49 crore (accounting for 73.18% of total sales). Sales of
99acres for Real Estate segment has gone up 34.92% to Rs 66.35 crore
(accounting for 12.12% of total sales). Sales of Others segment has gone
up 67.78% to Rs 80.43 crore (accounting for 14.70% of total sales).
Profit
before interest, tax and other unallocable items (PBIT) has slumped 7.36% to Rs
87.54 crore. PBIT of Recruitment Solutions segment rose 89.27% to Rs
227.55 crore (accounting for 259.93% of total PBIT). PBIT of 99acres
for Real Estate segment fell 1,194.51% to Rs -37.97 crore (accounting for
-43.37% of total PBIT). PBIT of Others segment fell 347.67% to Rs
-102.04 crore (accounting for -116.56% of total PBIT).
PBIT
margin of Recruitment Solutions segment rose from 52.24% to
56.82%. PBIT margin of 99acres for Real Estate segment fell from
negative 5.96% to negative 57.23%. PBIT margin of Others segment
fell from negative 47.55% to negative 126.86%. Overall PBIT margin
fell from 28.88% to 16.00%.
Operating profit margin has declined
from 30.15% to 16.91%, leading to 6.22% decline in operating profit to Rs 92.53
crore. Employee cost increased from 48.20% to 50.94%.
Other expenses rose from 21.65% to 32.15%. Selling and
administration expenses rose from 14.06% to 19.63%. Other direct
service cost rose from 2.23% to 2.43%.
Other
income rose 518.89% to Rs 327.33 crore. PBIDT rose 177.03% to Rs
419.86 crore.
PBDT
rose 178.60% to Rs 418.52 crore. Provision for depreciation rose
27.95% to Rs 15.2 crore.
Profit
before tax grew 191.54% to Rs 403.32 crore. Share of profit/loss was
33.45% higher at Rs -63.86 crore. Provision for tax was expense of
Rs 47.02 crore, compared to Rs 37.52 crore. Effective tax rate was
13.85% compared to 19.45%.
Minority interest increased
3,683.33% to Rs 113.50 crore. Net profit attributable to owners of
the company increased 17.46% to Rs 178.94 crore.
Promoters’
stake was 38.11% as of 30 June 2022 ,compared to 38.41% as of 30 June 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
.
Cash
flow from operating activities increased to Rs 706.75 crore for year ended
March 2022 from Rs 275.65 crore for year ended March 2021. Cash flow
used in acquiring fixed assets during the year ended March 2022 stood at Rs
763.67 crore, compared to Rs 8.33 crore during the year ended March
2021.
Operational Highlights:
Recruitment vertical reported 5th consecutive qtrs of strong billing
growth in the range of 65%-75%.
Recruitment business recorded 49% growth in new customers.
Billing growth witnessed across all industry verticals ( IT and Non
IT).
All acquisitions- iimjobs, hirist, Zwayam & DoSelect- reported
stellar performance during the qtr.
With increasing traffic of students travelling abroad for studies,
Shiksha business teams sees strong potential for growth in this market.
Management Comment:
Commenting
on the results, Mr Hitesh Oberoi, Managing Director and Chief Executive
Officer, Info Edge(India) said “The recruitment business continues to
grow strongly and we remain optimistic for the current qtr as well.”
Mr.
Chintan Thakkar, Whole Time Director and CFO said “Consistent
superlative growth of billings and profitability for the fifth consecutive
quarter is evidence of renewed momentum in the business.”
| Info Edge (India) : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202206 | 202106 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 547.27 | 327.26 | 67.23 | 1,589.03 | 1,128.00 | 40.87 | | OPM (%) | 16.91 | 30.15 | -1,324 bps | 27.64 | 24.93 | 271 bps | | OP | 92.53 | 98.67 | -6.22 | 439.24 | 281.25 | 56.17 | | Other Inc. | 327.33 | 52.89 | 518.89 | 440.36 | 149.40 | 194.75 | | PBIDT | 419.86 | 151.56 | 177.03 | 879.60 | 430.65 | 104.25 | | Interest | 1.34 | 1.34 | 0 | 4.65 | 5.79 | -19.69 | | PBDT | 418.52 | 150.22 | 178.60 | 874.95 | 424.86 | 105.94 | | Depreciation | 15.2 | 11.88 | 27.95 | 44.91 | 44.8 | 0.25 | | PBT | 403.32 | 138.34 | 191.54 | 830.04 | 380.06 | 118.40 | | Share of Profit/(Loss) from Associates | -63.86 | -95.96 | 33.45 | 2195.36 | -211.87 | LP | | PBT before EO | 339.46 | 42.38 | 700.99 | 3025.4 | 168.19 | 1,698.80 | | EO Income | 0 | 150.48 | - | 11174.71 | 1434.12 | 679.20 | | PBT after EO | 339.46 | 192.86 | 76.01 | 14200.11 | 1602.31 | 786.23 | | Taxation | 47.02 | 37.52 | 25.32 | 1317.88 | 184.28 | 615.15 | | PAT | 292.44 | 155.34 | 88.26 | 12882.23 | 1418.03 | 808.46 | | Minority Interest (MI) | 113.5 | 3 | 3,683.33 | 122.66 | 1.72 | 7,031.40 | | Net profit | 178.94 | 152.34 | 17.46 | 12759.57 | 1416.31 | 800.90 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 178.94 | 152.34 | 17.46 | 12759.57 | 1416.31 | 800.90 | | EPS (Rs)* | 13.87 | 1.78 | 679.02 | 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) | 202206 | 202106 | Var.(%) | % of (Total) | 202203 | 202103 | Var.(%) |
|---|
| Sales | | Recruitment Solutions | 73.18 | 400.49 | 230.14 | 74.02 | 74.39 | 1,182.03 | 800.37 | 47.69 | | 99acres for Real Estate | 12.12 | 66.35 | 49.17 | 34.92 | 13.68 | 217.32 | 173.78 | 25.06 | | Online Restaurant Discovery | 0.00 | 0.00 | 0.00 | - | | Others | 14.70 | 80.43 | 47.94 | 67.78 | 11.94 | 189.68 | 153.86 | 23.28 | | Total Reported Sales | 100.00 | 547.27 | 327.26 | 67.23 | 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 | 547.27 | 327.26 | 67.23 | 100.00 | 1,589.03 | 1,128.00 | 40.87 | | PBIT | | Recruitment Solutions | 259.93 | 227.55 | 120.23 | 89.27 | 153.12 | 656.92 | 412.66 | 59.19 | | 99acres for Real Estate | -43.37 | -37.97 | -2.93 | -1,194.51 | -20.88 | -89.59 | -35.70 | -150.99 | | Online Restaurant Discovery | 0.00 | 0.00 | 0.00 | - | | Others | -116.56 | -102.04 | -22.79 | -347.67 | -32.24 | -138.30 | -108.43 | -27.56 | | Total PBIT | 100.00 | 87.54 | 94.50 | -7.36 | 100.00 | 429.03 | 268.54 | 59.76 | | Less : Interest | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Add: Other un-allcoable | | 251.91 | 98.36 | 156.12 | | 13,771.09 | 1,333.77 | 932.49 | | PBIT Margin(%) | | Recruitment Solutions | | 56.82 | 52.24 | 457.76 | | 55.58 | 51.56 | 401.70 | | 99acres for Real Estate | | -57.23 | -5.96 | -5,126.27 | | -41.22 | -20.54 | -2,068.40 | | Online Restaurant Discovery | | 0.00 | 0.00 | 0.00 | | Others | | -126.86 | -47.55 | -7,931.82 | | -72.91 | -70.47 | -244.18 | | PBT | 100.00 | 339.45 | 192.86 | 76.01 | 100.00 | 14,200.11 | 1,602.31 | 786.23 |
|
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