On consolidated basis
Quarter ended September 2023
compared with Quarter ended September 2022.
Net sales (including other operating income) of Info Edge (India) has increased
3.60% to Rs 625.85 crore. Sales of Recruitment Solutions segment has
gone up 7.38% to Rs 467.98 crore (accounting for 74.77% of total
sales). Sales of 99acres for Real Estate segment has gone up 25.21%
to Rs 87.29 crore (accounting for 13.95% of total sales). Sales of
Others segment has gone down 28.41% to Rs 70.59 crore (accounting for 11.28% of
total sales).
Profit before interest, tax and
other unallocable items (PBIT) has jumped 96.65% to Rs 185.04
crore. PBIT of Recruitment Solutions segment rose 4.06% to Rs 263.40
crore (accounting for 142.34% of total PBIT). PBIT of 99acres for
Real Estate segment rose 49.18% to Rs -16.46 crore (accounting for -8.90% of
total PBIT). PBIT of Others segment rose 51.13% to Rs -61.90 crore
(accounting for -33.45% of total PBIT).
PBIT margin of Recruitment Solutions
segment fell from 58.08% to 56.29%. PBIT margin of 99acres for Real
Estate segment rose from negative 46.47% to negative 18.86%. PBIT
margin of Others segment rose from negative 128.45% to negative 87.68%. Overall
PBIT margin rose from 15.58% to 29.57%.
Operating profit margin has jumped
from 16.85% to 32.70%, leading to 101.08% rise in operating profit to Rs 204.68
crore. Employee cost decreased from 49.59% to 44.17%.
Other expenses fell from 33.56% to 23.13%. Selling and
administration expenses fell from 17.39% to 13.82%. Other direct
service cost rose from 2.74% to 2.92%.
Other income rose 35.43% to Rs
166.16 crore. PBIDT rose 65.20% to Rs 370.84
crore. Provision for interest rose 156.56% to Rs 8.21
crore. Loan funds rose to Rs 274.24 crore as of 30 September 2023
from Rs 135.69 crore as of 30 September 2022. Sundry debtors were
lower at Rs 13.35 crore as of 30 September 2023 compared to Rs 100.33 crore as
of 30 September 2022. Cash and bank balance declined from Rs 596.54
crore as of 30 September 2022 to Rs 506.06 crore as of 30 September
2023. Investments rose to Rs 19,385.25 crore as of 30 September 2023
from Rs 12,565.32 crore as of 30 September 2022 .
PBDT rose 63.88% to Rs 362.63
crore. Provision for depreciation rose 49.65% to Rs 25.95
crore. Fixed assets increased to Rs 466.96 crore as of 30 September
2023 from Rs 210.19 crore as of 30 September 2022. Intangible assets
declined from Rs 894.69 crore to Rs 477.98 crore.
Profit before tax grew 65.09% to Rs
336.68 crore. Share of profit/loss was 34.47% lower at Rs -74.32
crore. Provision for tax was expense of Rs 68.71 crore, compared to
Rs 54.77 crore. Effective tax rate was 22.28% compared to 36.84%.
Net profit attributable to owners of
the company increased 99.14% to Rs 205.13 crore.
Equity capital increased from Rs
128.77 crore as of 30 September 2022 to Rs 129.08 crore as of 30 September
2023. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 37.98% as of 30
September 2023 ,compared to 38.11% as of 30 September 2022 .
Year-to-date (YTD) results analysis.
Net sales (including other operating income) of Info Edge (India) has increased
8.72% to Rs 1251.8 crore. Sales of Recruitment Solutions segment has
gone up 11.21% to Rs 930.08 crore (accounting for 74.30% of total
sales). Sales of 99acres for Real Estate segment has gone up 24.91%
to Rs 169.95 crore (accounting for 13.58% of total sales). Sales of
Others segment has gone down 15.22% to Rs 151.78 crore (accounting for 12.12%
of total sales).
Profit before interest, tax and
other unallocable items (PBIT) has jumped 105.52% to Rs 373.31
crore. PBIT of Recruitment Solutions segment rose 9.85% to Rs 528.02
crore (accounting for 141.44% of total PBIT). PBIT of 99acres for Real
Estate segment rose 44.64% to Rs -38.95 crore (accounting for -10.43% of total
PBIT). PBIT of Others segment rose 49.38% to Rs -115.75 crore
(accounting for -31.01% of total PBIT).
PBIT margin of Recruitment Solutions
segment fell from 57.48% to 56.77%. PBIT margin of 99acres for Real
Estate segment rose from negative 51.71% to negative 22.92%. PBIT
margin of Others segment rose from negative 127.74% to negative
76.27%. Overall PBIT margin rose from 15.78% to 29.82%.
Operating profit margin has jumped
from 16.88% to 32.53%, leading to 109.58% rise in operating profit to Rs 407.25
crore. Employee cost decreased from 50.23% to 44.58%.
Other expenses fell from 32.89% to 22.88%. Selling and
administration expenses fell from 18.46% to 13.74%. Other direct
service cost rose from 2.59% to 2.99%.
Other income fell 48.94% to Rs
229.76 crore. PBIDT fell 1.14% to Rs 637.01
crore. Provision for interest rose 161.67% to Rs 11.88
crore. Loan funds rose to Rs 274.24 crore as of 30 September 2023 from
Rs 135.69 crore as of 30 September 2022. Sundry debtors were lower
at Rs 13.35 crore as of 30 September 2023 compared to Rs 100.33 crore as of 30
September 2022. Cash and bank balance declined from Rs 596.54 crore
as of 30 September 2022 to Rs 506.06 crore as of 30 September
2023. Investments rose to Rs 19,385.25 crore as of 30 September 2023
from Rs 12,565.32 crore as of 30 September 2022 .
PBDT fell 2.29% to Rs 625.13
crore. Provision for depreciation rose 52.69% to Rs 49.7
crore. Fixed assets increased to Rs 466.96 crore as of 30 September
2023 from Rs 210.19 crore as of 30 September 2022. Intangible assets
declined from Rs 894.69 crore to Rs 477.98 crore.
Profit before tax down 5.24% to Rs
575.43 crore. Share of profit/loss was 19.11% higher at Rs -96.37
crore. Provision for tax was expense of Rs 138.01 crore, compared to
Rs 101.79 crore. Effective tax rate was 26.28% compared to 20.85%.
Minority interest decreased 77.56%
to Rs 23.42 crore. Net profit attributable to owners of the company
increased 29.01% to Rs 363.73 crore.
Equity capital increased from Rs
128.77 crore as of 30 September 2022 to Rs 129.08 crore as of 30 September
2023. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 37.98% as of 30
September 2023 ,compared to 38.11% as of 30 September 2022 .
Cash flow from operating activities
increased to Rs 194.74 crore for YTD ended September 2023 from Rs 103.51 crore
for YTD ended September 2022. Cash flow used in acquiring fixed
assets during the YTD ended September 2023 stood at Rs 21.83 crore, compared to
Rs 25.84 crore during the YTD ended September 2022.
Full year results analysis.
Net sales (including other operating income) of Info Edge (India) has increased
47.62% to Rs 2345.69 crore. Sales of Recruitment Solutions segment
has gone up 47.98% to Rs 1,749.11 crore (accounting for 74.57% of total
sales). Sales of 99acres for Real Estate segment has gone up 30.91%
to Rs 284.51 crore (accounting for 12.13% of total sales). Sales of
Others segment has gone up 64.53% to Rs 312.07 crore (accounting for 13.30% of
total sales).
Profit before interest, tax and
other unallocable items (PBIT) has jumped 25.39% to Rs 537.98
crore. PBIT of Recruitment Solutions segment rose 56.26% to Rs
1,026.53 crore (accounting for 190.81% of total PBIT). PBIT of
99acres for Real Estate segment fell 32.27% to Rs -118.50 crore (accounting for
-22.03% of total PBIT). PBIT of Others segment fell 167.57% to Rs
-370.05 crore (accounting for -68.79% of total PBIT).
PBIT margin of Recruitment Solutions
segment rose from 55.58% to 58.69%. PBIT margin of 99acres for Real
Estate segment fell from negative 41.22% to negative 41.65%. PBIT
margin of Others segment fell from negative 72.91% to negative 118.58%. Overall
PBIT margin fell from 27.00% to 22.93%.
Operating profit margin has declined
from 27.64% to 24.23%, leading to 29.40% rise in operating profit to Rs 568.38
crore. Employee cost decreased from 46.97% to 46.78%.
Other expenses rose from 25.39% to 28.99%. Selling and
administration expenses fell from 18.00% to 17.40%. Other direct
service cost rose from 2.14% to 2.70%.
Other income fell 10.79% to Rs
392.85 crore. PBIDT rose 9.28% to Rs 961.23
crore. Provision for interest rose 57.85% to Rs 7.34
crore. Loan funds rose to Rs 107.65 crore as of 31 March 2023 from
Rs 64.07 crore as of 31 March 2022. Sundry debtors were lower at Rs
12.62 crore as of 31 March 2023 compared to Rs 30.02 crore as of 31 March
2022. Cash and bank balance rose to Rs 571.46 crore as of 31 March
2023 from Rs 368.29 crore as of 31 March 2022. Investments declined
from Rs 15,614.19 crore as of 31 March 2022 to Rs 12,403.35 crore as of 31
March 2023.
PBDT rose 9.02% to Rs 953.89
crore. Provision for depreciation rose 62.59% to Rs 73.02
crore. Fixed assets increased to Rs 326.98 crore as of 31 March 2023
from Rs 192.15 crore as of 31 March 2022. Intangible assets declined
from Rs 840.39 crore to Rs 477.98 crore.
Profit before tax grew 6.12% to Rs
880.87 crore. Provision for tax was expense of Rs 211.07 crore,
compared to Rs 1317.88 crore. Effective tax rate was 150.11%
compared to 9.28%.
Minority interest decreased 69.88%
to Rs 36.95 crore.
Equity capital increased from Rs
128.71 crore as of 31 March 2022 to Rs 129.01 crore as of 31 March
2023. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 38.05% as of 31
March 2023 ,compared to 38.17% as of 31 March 2022 .
Cash flow from operating activities
decreased to Rs 520.79 crore for year ended March 2023 from Rs 706.75 crore for
year ended March 2022. Cash flow used in acquiring fixed assets
during the year ended March 2023 stood at Rs 58.48 crore, compared to Rs 20.71
crore during the year ended March 2022.
Dividend:
The Board has declared Interim Dividend of Rs. 10/- per share
Management
Comment:
Commenting on the results, Mr. Mr.
Hitesh Oberoi, Managing Director and Chief Executive Officer said “Good
execution in 99acres and Jeevansathi business helped reduce burn in these
verticals substantially during the quarter. The Non IT hiring market continued to
be strong but a slowdown in IT hiring dragged down Naukri growth.”
| Info Edge (India) : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202309 | 202209 | Var.(%) | 202309 | 202209 | Var.(%) | 202303 | 202203 | Var.(%) |
|---|
| Net Sales (including other operating income) | 625.85 | 604.13 | 3.60 | 1,251.80 | 1,151.39 | 8.72 | 2,345.69 | 1,589.03 | 47.62 | | OPM (%) | 32.70 | 16.85 | 1,586 bps | 32.53 | 16.88 | 1,566 bps | 24.23 | 27.64 | -341 bps | | OP | 204.68 | 101.79 | 101.08 | 407.25 | 194.32 | 109.58 | 568.38 | 439.24 | 29.40 | | Other Inc. | 166.16 | 122.69 | 35.43 | 229.76 | 450.02 | -48.94 | 392.85 | 440.36 | -10.79 | | PBIDT | 370.84 | 224.48 | 65.20 | 637.01 | 644.34 | -1.14 | 961.23 | 879.60 | 9.28 | | Interest | 8.21 | 3.20 | 156.56 | 11.88 | 4.54 | 161.67 | 7.34 | 4.65 | 57.85 | | PBDT | 362.63 | 221.28 | 63.88 | 625.13 | 639.80 | -2.29 | 953.89 | 874.95 | 9.02 | | Depreciation | 25.95 | 17.34 | 49.65 | 49.7 | 32.55 | 52.69 | 73.02 | 44.91 | 62.59 | | PBT | 336.68 | 203.94 | 65.09 | 575.43 | 607.25 | -5.24 | 880.87 | 830.04 | 6.12 | | Share of Profit/(Loss) from Associates | -74.32 | -55.27 | -34.47 | -96.37 | -119.13 | 19.11 | -231.01 | 2195.36 | PL | | PBT before EO | 262.36 | 148.67 | 76.47 | 479.06 | 488.12 | -1.86 | 649.86 | 3025.4 | -78.52 | | EO Income | 46.1 | 0 | - | 46.1 | 0 | - | -509.25 | 11174.71 | PL | | PBT after EO | 308.46 | 148.67 | 107.48 | 525.16 | 488.12 | 7.59 | 140.61 | 14200.11 | -99.01 | | Taxation | 68.71 | 54.77 | 25.45 | 138.01 | 101.79 | 35.58 | 211.07 | 1317.88 | -83.98 | | PAT | 239.75 | 93.9 | 155.32 | 387.15 | 386.33 | 0.21 | -70.46 | 12882.23 | PL | | Minority Interest (MI) | 34.62 | -9.11 | PL | 23.42 | 104.39 | -77.56 | 36.95 | 122.66 | -69.88 | | Net profit | 205.13 | 103.01 | 99.14 | 363.73 | 281.94 | 29.01 | -107.41 | 12759.57 | PL | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 205.13 | 103.01 | 99.14 | 363.73 | 281.94 | 29.01 | -107.41 | 12759.57 | PL | | EPS (Rs)* | 13.25 | 7.96 | 66.46 | 25.47 | 21.79 | 16.90 | 4.79 | 226.13 | -97.88 | | | * EPS is on current equity of Rs 129.38 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) | 202309 | 202209 | Var.(%) | % of (Total) | 202309 | 202209 | Var.(%) | % of (Total) | 202303 | 202203 | Var.(%) |
|---|
| Sales | | Recruitment Solutions | 74.77 | 467.98 | 435.82 | 7.38 | 74.30 | 930.08 | 836.31 | 11.21 | 74.57 | 1,749.11 | 1,182.03 | 47.98 | | 99acres for Real Estate | 13.95 | 87.29 | 69.71 | 25.21 | 13.58 | 169.95 | 136.06 | 24.91 | 12.13 | 284.51 | 217.32 | 30.91 | | Others | 11.28 | 70.59 | 98.59 | -28.41 | 12.12 | 151.78 | 179.03 | -15.22 | 13.30 | 312.07 | 189.68 | 64.53 | | Total Reported Sales | 100.00 | 625.85 | 604.13 | 3.60 | 100.00 | 1,251.80 | 1,151.39 | 8.72 | 100.00 | 2,345.69 | 1,589.03 | 47.62 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 625.85 | 604.13 | 3.60 | 100.00 | 1,251.80 | 1,151.39 | 8.72 | 100.00 | 2,345.69 | 1,589.03 | 47.62 | | PBIT | | Recruitment Solutions | 142.34 | 263.40 | 253.13 | 4.06 | 141.44 | 528.02 | 480.68 | 9.85 | 190.81 | 1,026.53 | 656.92 | 56.26 | | 99acres for Real Estate | -8.90 | -16.46 | -32.39 | 49.18 | -10.43 | -38.95 | -70.36 | 44.64 | -22.03 | -118.50 | -89.59 | -32.27 | | Others | -33.45 | -61.90 | -126.65 | 51.13 | -31.01 | -115.75 | -228.68 | 49.38 | -68.79 | -370.05 | -138.30 | -167.57 | | Total PBIT | 100.00 | 185.04 | 94.10 | 96.65 | 100.00 | 373.31 | 181.64 | 105.52 | 100.00 | 537.98 | 429.03 | 25.39 | | Less : Interest | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Add: Other un-allcoable | | 123.41 | 54.58 | 126.11 | | 151.84 | 306.48 | -50.46 | | -397.37 | 13,771.09 | PL | | PBIT Margin(%) | | Recruitment Solutions | | 56.29 | 58.08 | -179.72 | | 56.77 | 57.48 | -70.52 | | 58.69 | 55.58 | 311.29 | | 99acres for Real Estate | | -18.86 | -46.47 | 2,760.72 | | -22.92 | -51.71 | 2,879.21 | | -41.65 | -41.22 | -42.70 | | Others | | -87.68 | -128.45 | 4,076.61 | | -76.27 | -127.74 | 5,147.12 | | -118.58 | -72.91 | -4,566.54 | | PBT | 100.00 | 308.45 | 148.67 | 107.47 | 100.00 | 525.15 | 488.12 | 7.59 | 100.00 | 140.61 | 14,200.11 | -99.01 |
|
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