On consolidated basis
Quarter ended September 2022
compared with Quarter ended September 2021.
Net sales (including other operating income) of Info Edge (India) has increased
65.94% to Rs 604.13 crore. Sales of Recruitment Solutions segment
has gone up 60.63% to Rs 435.82 crore (accounting for 72.14% of total
sales). Sales of 99acres for Real Estate segment has gone up 44.42%
to Rs 69.71 crore (accounting for 11.54% of total sales). Sales of
Others segment has gone up 121.61% to Rs 98.59 crore (accounting for 16.32% of
total sales).
Profit before interest, tax and
other unallocable items (PBIT) has slumped 2.10% to Rs 94.10
crore. PBIT of Recruitment Solutions segment rose 76.64% to Rs
253.13 crore (accounting for 269.01% of total PBIT). PBIT of 99acres
for Real Estate segment fell 30.27% to Rs -32.39 crore (accounting for -34.42%
of total PBIT). PBIT of Others segment fell 467.25% to Rs -126.65
crore (accounting for -134.59% of total PBIT).
PBIT margin of Recruitment Solutions
segment rose from 52.82% to 58.08%. PBIT margin of 99acres for Real
Estate segment rose from negative 51.51% to negative 46.47%. PBIT
margin of Others segment fell from negative 50.18% to negative 128.45%. Overall
PBIT margin fell from 26.40% to 15.58%.
Operating profit margin has declined
from 27.74% to 16.85%, leading to 0.80% rise in operating profit to Rs 101.79
crore. Employee cost increased from 47.99% to 49.59%.
Other expenses rose from 24.28% to 33.56%. Selling and
administration expenses rose from 16.98% to 17.39%. Other direct
service cost rose from 2.37% to 2.74%.
Other income rose 168.59% to Rs
122.69 crore. PBIDT rose 53.06% to Rs 224.48
crore. Provision for interest rose 156% to Rs 3.2
crore. Loan funds rose to Rs 135.69 crore as of 30 September 2022
from Rs 55.93 crore as of 30 September 2021. Sundry debtors were
higher at Rs 100.33 crore as of 30 September 2022 compared to Rs 11.68 crore as
of 30 September 2021. Cash and bank balance rose to Rs 596.54 crore
as of 30 September 2022 from Rs 151.14 crore as of 30 September
2021. Investments declined from Rs 18,194.60 crore as of 30
September 2021 to Rs 12,565.32 crore as of 30 September 2022.
PBDT rose 52.18% to Rs 221.28
crore. Provision for depreciation rose 35.57% to Rs 17.34
crore. Fixed assets increased to Rs 264.49 crore as of 30 September
2022 from Rs 118.38 crore as of 30 September 2021. Intangible assets
increased from Rs 166.76 crore to Rs 840.39 crore.
Profit before tax grew 53.78% to Rs
203.94 crore. Share of profit/loss was 16.28% higher at Rs -55.27
crore. Provision for tax was expense of Rs 54.77 crore, compared to
Rs 966.5 crore. Effective tax rate was 36.84% compared to 11.59%.
Minority interest decreased 384.57%
to Rs -9.11 crore. Net profit attributable to owners of the company
decreased 98.60% to Rs 103.01 crore.
Equity capital increased from Rs
128.64 crore as of 30 September 2021 to Rs 128.77 crore as of 30 September
2022. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 38.11% as of 30
September 2022 ,compared to 38.40% as of 30 September 2021 .
Year-to-date (YTD) results analysis.
Net sales (including other operating income) of Info Edge (India) has increased
66.55% to Rs 1151.39 crore. Sales of Recruitment Solutions segment
has gone up 66.78% to Rs 836.31 crore (accounting for 72.63% of total
sales). Sales of 99acres for Real Estate segment has gone up 39.63%
to Rs 136.06 crore (accounting for 11.82% of total sales). Sales of
Others segment has gone up 93.69% to Rs 179.03 crore (accounting for 15.55% of
total sales).
Profit before interest, tax and
other unallocable items (PBIT) has slumped 4.71% to Rs 181.64
crore. PBIT of Recruitment Solutions segment rose 82.40% to Rs
480.68 crore (accounting for 264.64% of total PBIT). PBIT of 99acres
for Real Estate segment fell 153.10% to Rs -70.36 crore (accounting for -38.74%
of total PBIT). PBIT of Others segment fell 406.84% to Rs -228.68
crore (accounting for -125.90% of total PBIT).
PBIT margin of Recruitment Solutions
segment rose from 52.55% to 57.48%. PBIT margin of 99acres for Real
Estate segment fell from negative 28.53% to negative 51.71%. PBIT
margin of Others segment fell from negative 48.82% to negative 127.74%. Overall
PBIT margin fell from 27.57% to 15.78%.
Operating profit margin has declined
from 28.88% to 16.88%, leading to 2.66% decline in operating profit to Rs
194.32 crore. Employee cost increased from 48.09% to 50.23%.
Other expenses rose from 23.03% to 32.89%. Selling and
administration expenses rose from 15.59% to 18.46%. Other direct
service cost rose from 2.30% to 2.59%.
Other income rose 356.55% to Rs
450.02 crore. PBIDT rose 116.07% to Rs 644.34
crore. Provision for interest rose 75.29% to Rs 4.54 crore. Loan
funds rose to Rs 135.69 crore as of 30 September 2022 from Rs 55.93 crore as of
30 September 2021. Sundry debtors were higher at Rs 100.33 crore as
of 30 September 2022 compared to Rs 11.68 crore as of 30 September 2021. Cash
and bank balance rose to Rs 596.54 crore as of 30 September 2022 from Rs 151.14
crore as of 30 September 2021. Investments declined from Rs
18,194.60 crore as of 30 September 2021 to Rs 12,565.32 crore as of 30
September 2022.
PBDT rose 116.43% to Rs 639.8
crore. Provision for depreciation rose 31.94% to Rs 32.55
crore. Fixed assets increased to Rs 264.49 crore as of 30 September
2022 from Rs 118.38 crore as of 30 September 2021. Intangible assets
increased from Rs 166.76 crore to Rs 840.39 crore.
Profit before tax grew 124.12% to Rs
607.25 crore. Share of profit/loss was 26.45% higher at Rs -119.13
crore. Provision for tax was expense of Rs 101.79 crore, compared to
Rs 1004.02 crore. Effective tax rate was 20.85% compared to 11.77%.
Minority interest increased 9,220.54%
to Rs 104.39 crore. Net profit attributable to owners of the company
decreased 96.25% to Rs 281.94 crore.
Equity capital increased from Rs
128.64 crore as of 30 September 2021 to Rs 128.77 crore as of 30 September
2022. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 38.11% as of 30
September 2022 ,compared to 38.40% as of 30 September 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 192.15 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 840.39 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 maintained its growth trend during the quarter and
reported 45% growth YOY. Naukri India, iimjobs, Zwayam and Do Select were the
key contributors to the growth numbers.
Billing growth witnessed across all industry verticals ( IT and Non
IT).
Shiksha business reported a healthy growth rate of 31% during the
quarter.
Dividend: The Board of
Directors have declared interim Dividend of Rs 10/- per equity share (on face
value of Rs 10/- per share) for financial year FY2023
Management Comment:
Commenting on the results, Mr Hitesh
Oberoi, Managing Director and Chief Executive Officer, Info Edge(India) said “The recruitment had another great quarter. The hiring
market for IT professionals
is slowly returning to normal. However Non IT market continues to be strong”
Mr.
Chintan Thakkar, Whole Time Director and CFO said “The recruitment
business continues to show strong momentum in billing and cash”
| Info Edge (India) : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202209 | 202109 | Var.(%) | 202209 | 202109 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 604.13 | 364.07 | 65.94 | 1,151.39 | 691.33 | 66.55 | 1,589.03 | 1,128.00 | 40.87 | | OPM (%) | 16.85 | 27.74 | -1,089 bps | 16.88 | 28.88 | -1,200 bps | 27.64 | 24.93 | 271 bps | | OP | 101.79 | 100.98 | 0.80 | 194.32 | 199.64 | -2.66 | 439.24 | 281.25 | 56.17 | | Other Inc. | 122.69 | 45.68 | 168.59 | 450.02 | 98.57 | 356.55 | 440.36 | 149.40 | 194.75 | | PBIDT | 224.48 | 146.66 | 53.06 | 644.34 | 298.21 | 116.07 | 879.60 | 430.65 | 104.25 | | Interest | 3.20 | 1.25 | 156.00 | 4.54 | 2.59 | 75.29 | 4.65 | 5.79 | -19.69 | | PBDT | 221.28 | 145.41 | 52.18 | 639.80 | 295.62 | 116.43 | 874.95 | 424.86 | 105.94 | | Depreciation | 17.34 | 12.79 | 35.57 | 32.55 | 24.67 | 31.94 | 44.91 | 44.8 | 0.25 | | PBT | 203.94 | 132.62 | 53.78 | 607.25 | 270.95 | 124.12 | 830.04 | 380.06 | 118.40 | | Share of Profit/(Loss) from Associates | -55.27 | -66.02 | 16.28 | -119.13 | -161.98 | 26.45 | 2195.36 | -211.87 | LP | | PBT before EO | 148.67 | 66.6 | 123.23 | 488.12 | 108.97 | 347.94 | 3025.4 | 168.19 | 1,698.80 | | EO Income | 0 | 8269.25 | - | 0 | 8419.73 | - | 11174.71 | 1434.12 | 679.20 | | PBT after EO | 148.67 | 8335.85 | -98.22 | 488.12 | 8528.7 | -94.28 | 14200.11 | 1602.31 | 786.23 | | Taxation | 54.77 | 966.5 | -94.33 | 101.79 | 1004.02 | -89.86 | 1317.88 | 184.28 | 615.15 | | PAT | 93.9 | 7369.35 | -98.73 | 386.33 | 7524.68 | -94.87 | 12882.23 | 1418.03 | 808.46 | | Minority Interest (MI) | -9.11 | -1.88 | -384.57 | 104.39 | 1.12 | 9,220.54 | 122.66 | 1.72 | 7,031.40 | | Net profit | 103.01 | 7371.23 | -98.60 | 281.94 | 7523.56 | -96.25 | 12759.57 | 1416.31 | 800.90 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 103.01 | 7371.23 | -98.60 | 281.94 | 7523.56 | -96.25 | 12759.57 | 1416.31 | 800.90 | | EPS (Rs)* | 7.99 | 3.98 | 100.53 | 21.86 | 6.02 | 263.18 | 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 | td>-| | Quarter ended | Year to Date | Year ended |
|---|
| % of (Total) | 202209 | 202109 | Var.(%) | % of (Total) | 202209 | 202109 | Var.(%) | % of (Total) | 202203 | 202103 | Var.(%) |
|---|
| Sales | | Recruitment Solutions | 72.14 | 435.82 | 271.31 | 60.63 | 72.63 | 836.31 | 501.46 | 66.78 | 74.39 | 1,182.03 | 800.37 | 47.69 | | 99acres for Real Estate | 11.54 | 69.71 | 48.27 | 44.42 | 11.82 | 136.06 | 97.44 | 39.63 | 13.68 | 217.32 | 173.78 | 25.06 | | Others | 16.32 | 98.59 | 44.49 | 121.61 | 15.55 | 179.03 | 92.43 | 93.69 | 11.94 | 189.68 | 153.86 | 23.28 | | Total Reported Sales | 100.00 | 604.13 | 364.07 | 65.94 | 100.00 | 1,151.39 | 691.33 | 66.55 | 100.00 | 1,589.03 | 1,128.00 | 40.87 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 604.13 | 364.07 | 65.94 | 100.00 | 1,151.39 | 691.33 | 66.55 | 100.00 | 1,589.03 | 1,128.00 | 40.87 | | PBIT | | Recruitment Solutions | 269.01 | 253.13 | 143.31 | 76.64 | 264.64 | 480.68 | 263.54 | 82.40 | 153.12 | 656.92 | 412.66 | 59.19 | | 99acres for Real Estate | -34.42 | -32.39 | -24.87 | -30.27 | -38.74 | -70.36 | -27.80 | -153.10 | -20.88 | -89.59 | -35.70 | -150.99 | | Others | -134.59 | -126.65 | -22.33 | -467.25 | -125.90 | -228.68 | -45.12 | -406.84 | -32.24 | -138.30 | -108.43 | -27.56 | | Total PBIT | 100.00 | 94.10 | 96.12 | -2.10 | 100.00 | 181.64 | 190.62 | -4.71 | 100.00 | 429.03 | 268.54 | 59.76 | | Less : Interest | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Add: Other un-allcoable | | 54.58 | 8,239.73 | -99.34 | | 306.48 | 8,338.08 | -96.32 | | 13,771.09 | 1,333.77 | 932.49 | | PBIT Margin(%) | | Recruitment Solutions | | 58.08 | 52.82 | 526.17 | | 57.48 | 52.55 | 492.25 | | 55.58 | 51.56 | 401.70 | | 99acres for Real Estate | | -46.47 | -51.51 | 504.83 | | -51.71 | -28.53 | -2,318.54 | | -41.22 | -20.54 | -2,068.40 | | Others | | -128.45 | -50.18 | -7,826.78 | | -127.74 | -48.82 | -7,892.27 | | -72.91 | -70.47 | -244.18 | | PBT | 100.00 | 148.67 | 8,335.84 | -98.22 | 100.00 | 488.12 | 8,528.70 | -94.28 | 100.00 | 14,200.11 | 1,602.31 | 786.23 |
|
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