On consolidated basis
Quarter ended December 2023 compared
with Quarter ended December 2022.
Net sales (including other operating income) of Info Edge (India) has increased
6.38% to Rs 627.12 crore. Sales of Recruitment Solutions segment has
gone up 3.57% to Rs 469.33 crore (accounting for 74.84% of total
sales). Sales of 99acres for Real Estate segment has gone up 21.76%
to Rs 88.76 crore (accounting for 14.15% of total sales). Sales of
Others segment has gone up 8.76% to Rs 69.03 crore (accounting for 11.01% of
total sales).
Profit before interest, tax and
other unallocable items (PBIT) has jumped 3.24% to Rs 184.43
crore. PBIT of Recruitment Solutions segment fell 4.47% to Rs 259.17
crore (accounting for 140.52% of total PBIT). PBIT of 99acres for
Real Estate segment rose 43.50% to Rs -14.71 crore (accounting for -7.97% of
total PBIT). PBIT of Others segment rose 9.90% to Rs -60.03 crore
(accounting for -32.55% of total PBIT).
PBIT margin of Recruitment Solutions
segment fell from 59.87% to 55.22%. PBIT margin of 99acres for Real
Estate segment rose from negative 35.70% to negative 16.57%. PBIT
margin of Others segment rose from negative 104.98% to negative 86.97%. Overall
PBIT margin fell from 30.30% to 29.41%.
Operating profit margin has jumped
from 31.98% to 32.31%, leading to 7.46% rise in operating profit to Rs 202.61
crore. Employee cost increased from 43.27% to 44.40%.
Other expenses fell from 24.75% to 23.29%. Selling and
administration expenses fell from 15.92% to 13.69%. Other direct
service cost rose from 2.64% to 2.98%.
Other income fell 91.35% to Rs 32.69
crore. PBIDT fell 58.46% to Rs 235.3 crore. Provision for
interest rose 262.31% to Rs 4.71 crore.
PBDT fell 59.20% to Rs 230.59
crore. Provision for depreciation rose 27.38% to Rs 25.82
crore.
Profit before tax down 62.42% to Rs
204.77 crore. Share of profit/loss was 41.69% higher at Rs -19.64
crore. Provision for tax was expense of Rs 70.99 crore, compared to
Rs 53.06 crore. Effective tax rate was 37.28% compared to 53.35%.
Promoters’ stake was 37.91% as of 31
December 2023 ,compared to 38.05% as of 31 December 2022 .
For year-to-date (YTD) results
analysis.
Net sales (including other operating income) of Info Edge (India) has increased
7.93% to Rs 1878.92 crore. Sales of Recruitment Solutions segment
has gone up 8.53% to Rs 1,399.41 crore (accounting for 74.48% of total
sales). Sales of 99acres for Real Estate segment has gone up 23.81%
to Rs 258.71 crore (accounting for 13.77% of total sales). Sales of
Others segment has gone down 8.94% to Rs 220.80 crore (accounting for 11.75% of
total sales).
Profit before interest, tax and
other unallocable items (PBIT) has jumped 54.80% to Rs 557.74
crore. PBIT of Recruitment Solutions segment rose 4.68% to Rs 787.19
crore (accounting for 141.14% of total PBIT). PBIT of 99acres for
Real Estate segment rose 44.33% to Rs -53.66 crore (accounting for -9.62% of
total PBIT). PBIT of Others segment rose 40.47% to Rs -175.79 crore
(accounting for -31.52% of total PBIT).
PBIT margin of Recruitment Solutions
segment fell from 58.32% to 56.25%. PBIT margin of 99acres for Real
Estate segment rose from negative 46.13% to negative 20.74%. PBIT
margin of Others segment rose from negative 121.78% to negative
79.61%. Overall PBIT margin rose from 20.70% to 29.68%.
Operating profit margin has jumped
from 21.99% to 32.46%, leading to 59.29% rise in operating profit to Rs 609.86
crore. Employee cost decreased from 47.87% to 44.52%.
Other expenses fell from 30.14% to 23.02%. Selling and
administration expenses fell from 17.60% to 13.73%. Other direct
service cost rose from 2.61% to 2.98%.
Other income fell 68.30% to Rs
262.44 crore. PBIDT fell 27.96% to Rs 872.3 crore. Provision
for interest rose 184.08% to Rs 16.59 crore.
PBDT fell 28.99% to Rs 855.71
crore. Provision for depreciation rose 42.98% to Rs 75.51
crore.
Profit before tax down 32.28% to Rs
780.20 crore. Share of profit/loss was 24.08% higher at Rs -116.01
crore. Provision for tax was expense of Rs 209 crore, compared to Rs
154.85 crore. Effective tax rate was 29.21% compared to 26.35%.
Net profit attributable to owners of
the company increased 211.22% to Rs 514.82 crore.
Promoters’ stake was 37.91% as of 31
December 2023 ,compared to 38.05% as of 31 December 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.
Management Comment:
Commenting on the results, Mr. Mr.
Hitesh Oberoi, Managing Director and Chief Executive Officer said "Efficient
execution in the 99acres and Jeevansathi businesses spurred top-line growth and
helped reduce burn during the quarter. While the non-IT hiring sector remained
robust, the continued slowdown in IT hiring impacted Naukrl`s growth"
Mr. Chintan Thakkar, Director and
Chief Financial Officer said "We`re pleased to report strong cash generation
during the quarter. Our operating cash in Q3FY24 has grown by 12.7%
year-on-year, culminating in a quarter-end cash balance of Rs . 3,724cr. These
results underscore our commitment to sound financial management and long-term
value creation for stakeholders”
| Info Edge (India) : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202312 | 202212 | Var.(%) | 202312 | 202212 | Var.(%) | 202303 | 202203 | Var.(%) |
|---|
| Net Sales (including other operating income) | 627.12 | 589.52 | 6.38 | 1,878.92 | 1,740.91 | 7.93 | 2,345.69 | 1,589.03 | 47.62 | | OPM (%) | 32.31 | 31.98 | 32 bps | 32.46 | 21.99 | 1,047 bps | 24.23 | 27.64 | -341 bps | | OP | 202.61 | 188.55 | 7.46 | 609.86 | 382.87 | 59.29 | 568.38 | 439.24 | 29.40 | | Other Inc. | 32.69 | 377.93 | -91.35 | 262.44 | 827.95 | -68.30 | 392.85 | 440.36 | -10.79 | | PBIDT | 235.30 | 566.48 | -58.46 | 872.30 | 1,210.82 | -27.96 | 961.23 | 879.60 | 9.28 | | Interest | 4.71 | 1.30 | 262.31 | 16.59 | 5.84 | 184.08 | 7.34 | 4.65 | 57.85 | | PBDT | 230.59 | 565.18 | -59.20 | 855.71 | 1,204.98 | -28.99 | 953.89 | 874.95 | 9.02 | | Depreciation | 25.82 | 20.27 | 27.38 | 75.51 | 52.81 | 42.98 | 73.02 | 44.91 | 62.59 | | PBT | 204.77 | 544.91 | -62.42 | 780.2 | 1152.17 | -32.28 | 880.87 | 830.04 | 6.12 | | Share of Profit/(Loss) from Associates | -19.64 | -33.68 | 41.69 | -116.01 | -152.81 | 24.08 | -231.01 | 2195.36 | PL | | PBT before EO | 185.13 | 511.23 | -63.79 | 664.19 | 999.36 | -33.54 | 649.86 | 3025.4 | -78.52 | | EO Income | 5.3 | -411.77 | LP | 51.4 | -411.77 | LP | -509.25 | 11174.71 | PL | | PBT after EO | 190.43 | 99.46 | 91.46 | 715.59 | 587.59 | 21.78 | 140.61 | 14200.11 | -99.01 | | Taxation | 70.99 | 53.06 | 33.79 | 209 | 154.85 | 34.97 | 211.07 | 1317.88 | -83.98 | | PAT | 119.44 | 46.4 | 157.41 | 506.59 | 432.74 | 17.07 | -70.46 | 12882.23 | PL | | Minority Interest (MI) | -31.65 | 162.93 | LP | -8.23 | 267.32 | LP | 36.95 | 122.66 | -69.88 | | Net profit | 151.09 | -116.53 | LP | 514.82 | 165.42 | 211.22 | -107.41 | 12759.57 | PL | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 151.09 | -116.53 | LP | 514.82 | 165.42 | 211.22 | -107.41 | 12759.57 | PL | | EPS (Rs)* | 11.35 | -28.81 | LP | 36.78 | 26.46 | 38.97 | 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) | 202312 | 202212 | Var.(%) | % of (Total) | 202312 | 202212 | Var.(%) | % of (Total) | 202303 | 202203 | Var.(%) |
|---|
| Sales | | Recruitment Solutions | 74.84 | 469.33 | 453.15 | 3.57 | 74.48 | 1,399.41 | 1,289.46 | 8.53 | 74.57 | 1,749.11 | 1,182.03 | 47.98 | | 99acres for Real Estate | 14.15 | 88.76 | 72.90 | 21.76 | 13.77 | 258.71 | 208.96 | 23.81 | 12.13 | 284.51 | 217.32 | 30.91 | | Others | 11.01 | 69.03 | 63.46 | 8.76 | 11.75 | 220.80 | 242.49 | -8.94 | 13.30 | 312.07 | 189.68 | 64.53 | | Total Reported Sales | 100.00 | 627.12 | 589.52 | 6.38 | 100.00 | 1,878.92 | 1,740.91 | 7.93 | 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 | 627.12 | 589.52 | 6.38 | 100.00 | 1,878.92 | 1,740.91 | 7.93 | 100.00 | 2,345.69 | 1,589.03 | 47.62 | | PBIT | | Recruitment Solutions | 140.52 | 259.17 | 271.30 | -4.47 | 141.14 | 787.19 | 751.99 | 4.68 | 190.81 | 1,026.53 | 656.92 | 56.26 | | 99acres for Real Estate | -7.97 | -14.71 | -26.03 | 43.50 | -9.62 | -53.66 | -96.39 | 44.33 | -22.03 | -118.50 | -89.59 | -32.27 | | Others | -32.55 | -60.03 | -66.63 | 9.90 | -31.52 | -175.79 | -295.31 | 40.47 | -68.79 | -370.05 | -138.30 | -167.57 | | Total PBIT | 100.00 | 184.43 | 178.65 | 3.24 | 100.00 | 557.74 | 360.29 | 54.80 | 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 | | 6.00 | -79.19 | LP | | 157.85 | 227.29 | -30.55 | | -397.37 | 13,771.09 | PL | | PBIT Margin(%) | | Recruitment Solutions | | 55.22 | 59.87 | -464.92 | | 56.25 | 58.32 | -206.64 | | 58.69 | 55.58 | 311.29 | | 99acres for Real Estate | | -16.57 | -35.70 | 1,913.44 | | -20.74 | -46.13 | 2,538.60 | | -41.65 | -41.22 | -42.70 | | Others | | -86.97 | -104.98 | 1,801.24 | | -79.61 | -121.78 | 4,216.95 | | -118.58 | -72.91 | -4,566.54 | | PBT | 100.00 | 190.44 | 99.46 | 91.47 | 100.00 | 715.59 | 587.58 | 21.79 | 100.00 | 140.61 | 14,200.11 | -99.01 |
|
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