On consolidated basis
Quarter ended December 2022 compared
with Quarter ended December 2021.
Net sales (including other operating income) of Info Edge (India) has increased
39.89% to Rs 589.52 crore. Sales of Recruitment Solutions segment
has gone up 43.10% to Rs 453.15 crore (accounting for 76.87% of total
sales). Sales of 99acres for Real Estate segment has gone up 24.38%
to Rs 72.90 crore (accounting for 12.37% of total sales). Sales of
Others segment has gone up 37.56% to Rs 63.46 crore (accounting for 10.77% of
total sales).
Profit before interest, tax and
other unallocable items (PBIT) has jumped 56.94% to Rs 178.65
crore. PBIT of Recruitment Solutions segment rose 49.72% to Rs
271.30 crore (accounting for 151.86% of total PBIT). PBIT of 99acres
for Real Estate segment fell 2.08% to Rs -26.03 crore (accounting for -14.57%
of total PBIT). PBIT of Others segment fell 59.08% to Rs -66.63
crore (accounting for -37.29% of total PBIT).
PBIT margin of Recruitment Solutions
segment rose from 57.22% to 59.87%. PBIT margin of 99acres for Real
Estate segment rose from negative 43.50% to negative 35.70%. PBIT
margin of Others segment fell from negative 90.78% to negative
104.98%. Overall PBIT margin rose from 27.01% to 30.30%.
Operating profit margin has jumped
from 27.74% to 31.98%, leading to 61.26% rise in operating profit to Rs 188.55
crore. Employee cost decreased from 45.93% to 43.27%.
Other expenses fell from 26.33% to 24.75%. Selling and
administration expenses fell from 19.13% to 15.92%. Other direct
service cost rose from 2.21% to 2.64%.
Other income rose 228.98% to Rs
377.93 crore. PBIDT rose 144.38% to Rs 566.48
crore. Provision for interest rose 17.12% to Rs 1.3
crore.
PBDT rose 145% to Rs 565.18
crore. Provision for depreciation rose 79.54% to Rs 20.27
crore.
Profit before tax grew 148.36% to Rs
544.91 crore. Provision for tax was expense of Rs 53.06 crore,
compared to Rs 272.53 crore. Effective tax rate was 53.35% compared
to 5.56%.
Minority interest increased 428.65%
to Rs 162.93 crore.
Promoters’ stake was 38.05% as of 31
December 2022 ,compared to 38.40% as of 31 December 2021 .
Year-to-date (YTD) results analysis.
Net sales (including other operating income) of Info Edge (India) has increased
55.98% to Rs 1740.91 crore. Sales of Recruitment Solutions segment
has gone up 58.07% to Rs 1,289.46 crore (accounting for 74.07% of total
sales). Sales of 99acres for Real Estate segment has gone up 33.90%
to Rs 208.96 crore (accounting for 12.00% of total sales). Sales of
Others segment has gone up 75.05% to Rs 242.49 crore (accounting for 13.93% of
total sales).
Profit before interest, tax and
other unallocable items (PBIT) has jumped 19.79% to Rs 360.29
crore. PBIT of Recruitment Solutions segment rose 70.00% to Rs 751.99
crore (accounting for 208.72% of total PBIT). PBIT of 99acres for
Real Estate segment fell 80.85% to Rs -96.39 crore (accounting for -26.75% of
total PBIT). PBIT of Others segment fell 234.51% to Rs -295.31 crore
(accounting for -81.96% of total PBIT).
PBIT margin of Recruitment Solutions
segment rose from 54.22% to 58.32%. PBIT margin of 99acres for Real
Estate segment fell from negative 34.15% to negative 46.13%. PBIT
margin of Others segment fell from negative 63.73% to negative
121.78%. Overall PBIT margin fell from 27.09% to 20.70%.
Operating profit margin has declined
from 28.66% to 21.99%, leading to 19.69% rise in operating profit to Rs 382.87
crore. Employee cost increased from 47.13% to 47.87%.
Other expenses rose from 24.21% to 30.14%. Selling and
administration expenses rose from 16.88% to 17.60%. Other direct
service cost rose from 2.26% to 2.61%.
Other income rose 287.91% to Rs
827.95 crore. PBIDT rose 127.03% to Rs 1210.82
crore. Provision for interest rose 58.70% to Rs 5.84
crore.
PBDT rose 127.50% to Rs 1204.98
crore. Provision for depreciation rose 58.07% to Rs 52.81
crore.
Profit before tax grew 132.18% to Rs
1,152.17 crore. Provision for tax was expense of Rs 154.85 crore,
compared to Rs 1277.19 crore. Effective tax rate was 26.35% compared
to 9.50%.
Minority interest increased 736.94%
to Rs 267.32 crore. Net profit attributable to owners of the company
decreased 98.64% to Rs 165.42 crore.
Promoters’ stake was 38.05% as of 31
December 2022 ,compared to 38.40% as of 31 December 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 revenue stood at 453.2 cr (including acquired
businesses Zwayam and DoSelect) a growth of 43.1% YoY. Billing including
acquired businesses ( Zwayam and Do Select) for the qtr stood at Rs 450.4 cr, a
growth of 20.2% YoY. Naukri India billing (included in above numbers) stood at
Rs 362.7 cr, a YoY growth of 17.8%.
Billing for Shiksha for the Qtr stood at Rs 27.8 Cr, a YOY growth of
8.5%. 99acres reported a billing of Rs 71.1 cr for the Qtr, a growth of 15.7%
and Jeevansathi reported billing of Rs 17.1 cr for the qtr, a YOY decline of
30.1%.
Shiksha reported revenues of Rs 27.7 Cr, a YoY growth of 26.2%. 99acres
reported revenues of Rs 72.9 Cr for the qtr, a growth of 24.4% YoY and
Jeevansathi revenues for the quarter was down 26.3% and closed at Rs 17.9 cr
Management Comment:
Commenting on the results, Mr Hitesh
Oberoi, Managing Director and Chief Executive Officer, Info Edge(India) said “While we are seeing a slowdown in the IT hiring, the Non
IT hiring market continues to be strong.”
| Info Edge (India) : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202212 | 202112 | Var.(%) | 202212 | 202112 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 589.52 | 421.42 | 39.89 | 1,740.91 | 1,116.08 | 55.98 | 1,589.03 | 1,128.00 | 40.87 | | OPM (%) | 31.98 | 27.74 | 424 bps | 21.99 | 28.66 | -667 bps | 27.64 | 24.93 | 271 bps | | OP | 188.55 | 116.92 | 61.26 | 382.87 | 319.89 | 19.69 | 439.24 | 281.25 | 56.17 | | Other Inc. | 377.93 | 114.88 | 228.98 | 827.95 | 213.44 | 287.91 | 440.36 | 149.40 | 194.75 | | PBIDT | 566.48 | 231.80 | 144.38 | 1,210.82 | 533.33 | 127.03 | 879.60 | 430.65 | 104.25 | | Interest | 1.30 | 1.11 | 17.12 | 5.84 | 3.68 | 58.70 | 4.65 | 5.79 | -19.69 | | PBDT | 565.18 | 230.69 | 145.00 | 1,204.98 | 529.65 | 127.50 | 874.95 | 424.86 | 105.94 | | Depreciation | 20.27 | 11.29 | 79.54 | 52.81 | 33.41 | 58.07 | 44.91 | 44.8 | 0.25 | | PBT | 544.91 | 219.40 | 148.36 | 1152.17 | 496.24 | 132.18 | 830.04 | 380.06 | 118.40 | | Share of Profit/(Loss) from Associates | -33.68 | 2405.42 | PL | -152.81 | 2243.44 | PL | 2195.36 | -211.87 | LP | | PBT before EO | 511.23 | 2624.82 | -80.52 | 999.36 | 2739.68 | -63.52 | 3025.4 | 168.19 | 1,698.80 | | EO Income | -411.77 | 2280.4 | PL | -411.77 | 10700.13 | PL | 11174.71 | 1434.12 | 679.20 | | PBT after EO | 99.46 | 4905.22 | -97.97 | 587.59 | 13439.81 | -95.63 | 14200.11 | 1602.31 | 786.23 | | Taxation | 53.06 | 272.53 | -80.53 | 154.85 | 1277.19 | -87.88 | 1317.88 | 184.28 | 615.15 | | PAT | 46.4 | 4632.69 | -99.00 | 432.74 | 12162.62 | -96.44 | 12882.23 | 1418.03 | 808.46 | | Minority Interest (MI) | 162.93 | 30.82 | 428.65 | 267.32 | 31.94 | 736.94 | 122.66 | 1.72 | 7,031.40 | | Net profit | -116.53 | 4601.87 | PL | 165.42 | 12130.68 | -98.64 | 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 | -116.53 | 4601.87 | PL | 165.42 | 12130.68 | -98.64 | 12759.57 | 1416.31 | 800.90 | | EPS (Rs)* | -28.86 | 201.12 | PL | 26.50 | 207.58 | -87.23 | 226.48 | 10.00 | 2,164.20 | | | * EPS is on current equity of Rs 129.18 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) | 202212 | 202112 | Var.(%) | % of (Total) | 202212 | 202112 | Var.(%) | % of (Total) | 202203 | 202103 | Var.(%) |
|---|
| Sales | | Recruitment Solutions | 76.87 | 453.15 | 316.67 | 43.10 | 74.07 | 1,289.46 | 815.74 | 58.07 | 74.39 | 1,182.03 | 800.37 | 47.69 | | 99acres for Real Estate | 12.37 | 72.90 | 58.61 | 24.38 | 12.00 | 208.96 | 156.06 | 33.90 | 13.68 | 217.32 | 173.78 | 25.06 | | Others | 10.77 | 63.46 | 46.13 | 37.56 | 13.93 | 242.49 | 138.53 | 75.05 | 11.94 | 189.68 | 153.86 | 23.28 | | Total Reported Sales | 100.00 | 589.52 | 421.42 | 39.89 | 100.00 | 1,740.91 | 1,110.33 | 56.79 | 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 | 589.52 | 421.42 | 39.89 | 100.00 | 1,740.91 | 1,110.33 | 56.79 | 100.00 | 1,589.03 | 1,128.00 | 40.87 | | PBIT | | Recruitment Solutions | 151.86 | 271.30 | 181.21 | 49.72 | 208.72 | 751.99 | 442.33 | 70.00 | 153.12 | 656.92 | 412.66 | 59.19 | | 99acres for Real Estate | -14.57 | -26.03 | -25.50 | -2.08 | -26.75 | -96.39 | -53.30 | -80.85 | -20.88 | -89.59 | -35.70 | -150.99 | | Others | -37.29 | -66.63 | -41.88 | -59.08 | -81.96 | -295.31 | -88.28 | -234.51 | -32.24 | -138.30 | -108.43 | -27.56 | | Total PBIT | 100.00 | 178.65 | 113.83 | 56.94 | 100.00 | 360.29 | 300.76 | 19.79 | 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 | | -79.19 | 4,791.38 | PL | | 227.29 | 13,129.46 | -98.27 | | 13,771.09 | 1,333.77 | 932.49 | | PBIT Margin(%) | | Recruitment Solutions | | 59.87 | 57.22 | 264.65 | | 58.32 | 54.22 | 409.33 | | 55.58 | 51.56 | 401.70 | | 99acres for Real Estate | | -35.70 | -43.50 | 779.81 | | -46.13 | -34.15 | -1,197.61 | | -41.22 | -20.54 | -2,068.40 | | Others | | -104.98 | -90.78 | -1,420.06 | | -121.78 | -63.73 | -5,805.42 | | -72.91 | -70.47 | -244.18 | | PBT | 100.00 | 99.46 | 4,905.22 | -97.97 | 100.00 | 587.58 | 13,430.22 | -95.62 | 100.00 | 14,200.11 | 1,602.31 | 786.23 |
|
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