On consolidated basis
Quarter ended March 2024 compared
with Quarter ended March 2023.
Net sales (including other operating income) of Info Edge (India) has increased
8.70% to Rs 657.42 crore. Sales of Recruitment Solutions segment has
gone up 4.54% to Rs 480.54 crore (accounting for 73.09% of total
sales). Sales of 99acres for Real Estate segment has gone up 22.53%
to Rs 92.57 crore (accounting for 14.08% of total sales). Sales of
Others segment has gone up 21.16% to Rs 84.31 crore (accounting for 12.82% of
total sales).
Profit before interest, tax and
other unallocable items (PBIT) has jumped 14.23% to Rs 202.98
crore. PBIT of Recruitment Solutions segment fell 5.17% to Rs 260.34
crore (accounting for 128.26% of total PBIT). PBIT of 99acres for
Real Estate segment rose 31.31% to Rs -15.19 crore (accounting for -7.48% of
total PBIT). PBIT of Others segment rose 43.58% to Rs -42.17 crore
(accounting for -20.78% of total PBIT).
PBIT margin of Recruitment Solutions
segment fell from 59.73% to 54.18%. PBIT margin of 99acres for Real
Estate segment rose from negative 29.27% to negative 16.41%. PBIT
margin of Others segment rose from negative 107.42% to negative 50.02%. Overall
PBIT margin rose from 29.38% to 30.87%.
Operating profit margin has jumped
from 30.67% to 33.37%, leading to 18.26% rise in operating profit to Rs 219.38
crore. Employee cost increased from 43.63% to 44.37%.
Other expenses fell from 25.69% to 22.26%. Selling and
administration expenses fell from 16.84% to 12.86%. Other direct
service cost fell from 2.97% to 2.83%.
PBIDT stood at Rs 370.67 crore
compared to loss of Rs 249.59 crore. Provision for interest rose
280.54% to Rs 5.67 crore. Loan funds rose to Rs 246.39 crore as of
31 March 2024 from Rs 107.65 crore as of 31 March 2023. Sundry
debtors were lower at Rs 10.65 crore as of 31 March 2024 compared to Rs 12.62
crore as of 31 March 2023. Cash and bank balance rose to Rs 1,192.98
crore as of 31 March 2024 from Rs 571.46 crore as of 31 March
2023. Investments rose to Rs 31,202.62 crore as of 31 March 2024
from Rs 12,403.35 crore as of 31 March 2023 .
PBDT stood at Rs 365 crore compared
to loss of Rs 251.08 crore. Provision for depreciation rose 26.78%
to Rs 25.61 crore. Fixed assets increased to Rs 439.64 crore as of
31 March 2024 from Rs 326.98 crore as of 31 March 2023. Intangible
assets declined from Rs 477.98 crore to Rs 369.98 crore.
Profit before tax reported profit of
Rs 339.39 crore compared to loss of Rs 271.28 crore. Share of
profit/loss was 80.86% higher at Rs -14.97 crore. Extraordinary
items were decreased to Rs -161.98 crore. Provision for tax was
expense of Rs 74.48 crore, compared to Rs 56.23 crore. Effective tax
rate was 45.85% compared to negative 12.58%.
Equity capital increased from Rs
129.01 crore as of 31 March 2023 to Rs 129.13 crore as of 31 March
2024. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 37.88% as of 31
March 2024 ,compared to 38.05% as of 31 March 2023 .
Full year results analysis.
Net sales (including other operating income) of Info Edge (India) has increased
8.13% to Rs 2536.34 crore. Sales of Recruitment Solutions segment
has gone up 7.48% to Rs 1,879.95 crore (accounting for 74.12% of total
sales). Sales of 99acres for Real Estate segment has gone up 23.47%
to Rs 351.28 crore (accounting for 13.85% of total sales). Sales of
Others segment has gone down 2.23% to Rs 305.11 crore (accounting for 12.03% of
total sales).
Profit before interest, tax and
other unallocable items (PBIT) has jumped 41.40% to Rs 760.72
crore. PBIT of Recruitment Solutions segment rose 2.05% to Rs
1,047.53 crore (accounting for 137.70% of total PBIT). PBIT of
99acres for Real Estate segment rose 41.90% to Rs -68.85 crore (accounting for
-9.05% of total PBIT). PBIT of Others segment rose 41.10% to Rs
-217.96 crore (accounting for -28.65% of total PBIT).
PBIT margin of Recruitment Solutions
segment fell from 58.69% to 55.72%. PBIT margin of 99acres for Real
Estate segment rose from negative 41.65% to negative 19.60%. PBIT
margin of Others segment rose from negative 118.58% to negative
71.44%. Overall PBIT margin rose from 22.93% to 29.99%.
Operating profit margin has jumped
from 24.23% to 32.69%, leading to 45.90% rise in operating profit to Rs 829.25
crore. Employee cost decreased from 46.78% to 44.48%.
Other expenses fell from 28.99% to 22.82%. Selling and
administration expenses fell from 17.40% to 13.50%. Other direct
service cost rose from 2.70% to 2.95%.
Other income rose 5.32% to Rs 413.74
crore. PBIDT rose 29.31% to Rs 1242.99 crore. Provision
for interest rose 203.27% to Rs 22.26 crore. Loan funds rose to Rs
246.39 crore as of 31 March 2024 from Rs 107.65 crore as of 31 March
2023. Sundry debtors were lower at Rs 10.65 crore as of 31 March
2024 compared to Rs 12.62 crore as of 31 March 2023. Cash and bank
balance rose to Rs 1,192.98 crore as of 31 March 2024 from Rs 571.46 crore as
of 31 March 2023. Investments rose to Rs 31,202.62 crore as of 31
March 2024 from Rs 12,403.35 crore as of 31 March 2023 .
PBDT rose 27.97% to Rs 1220.73
crore. Provision for depreciation rose 38.50% to Rs 101.13
crore. Fixed assets increased to Rs 439.64 crore as of 31 March 2024
from Rs 326.98 crore as of 31 March 2023. Intangible assets declined
from Rs 477.98 crore to Rs 369.98 crore.
Profit before tax grew 27.10% to Rs
1,119.60 crore. Share of profit/loss was 43.30% higher at Rs -130.98
crore. Extraordinary items were increased to Rs -110.58 crore. Provision
for tax was expense of Rs 283.48 crore, compared to Rs 211.07
crore. Effective tax rate was 32.29% compared to 150.11%.
Minority interest decreased 47.63%
to Rs 19.35 crore.
Equity capital increased from Rs
129.01 crore as of 31 March 2023 to Rs 129.13 crore as of 31 March
2024. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 37.88% as of 31
March 2024 ,compared to 38.05% as of 31 March 2023 .
Cash flow from operating activities
increased to Rs 702.30 crore for year ended March 2024 from Rs 512.42 crore for
year ended March 2023. Cash flow used in acquiring fixed assets
during the year ended March 2024 stood at Rs 29.70 crore, compared to Rs 58.48
crore during the year ended March 2023.
Dividend:
The Board has recommended a Final
Dividend of Rs. 12/- per share (on face value of Rs.10/- per share) for the
financial year 2023-24
Management Comment:
Commenting on the results, Mr. Mr.
Hitesh Oberoi, Managing Director and Chief Executive Officer said “I`m
encouraged to see a slight rebound in our recruitment business after several
weak quarters. Excellent execution in both 99acres and Jeevansathi helped
reduce operational losses in these verticals from Rs. 198cr in FY23 to Rs. 68cr
in FY24 with Rs. 21cr cash generation in Q4”
Mr. Chintan Thakkar, Director and
Chief Financial Officer said “Our cash from operations grew by 13.2%
year-over-year in Q4FY24, reaching a cash balance of Rs. 4,191cr as of March
31st, 2024. This consistent performance in cash flow generation underscores our
company`s robust financial health and positions us well for future investments
and shareholder returns.”
| Info Edge (India) : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202403 | 202303 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 657.42 | 604.78 | 8.70 | 2,536.34 | 2,345.69 | 8.13 | | OPM (%) | 33.37 | 30.67 | 270 bps | 32.69 | 24.23 | 846 bps | | OP | 219.38 | 185.51 | 18.26 | 829.25 | 568.38 | 45.90 | | Other Inc. | 151.29 | -435.10 | LP | 413.74 | 392.85 | 5.32 | | PBIDT | 370.67 | -249.59 | LP | 1,242.99 | 961.23 | 29.31 | | Interest | 5.67 | 1.49 | 280.54 | 22.26 | 7.34 | 203.27 | | PBDT | 365.00 | -251.08 | LP | 1,220.73 | 953.89 | 27.97 | | Depreciation | 25.61 | 20.2 | 26.78 | 101.13 | 73.02 | 38.50 | | PBT | 339.39 | -271.28 | LP | 1119.6 | 880.87 | 27.10 | | Share of Profit/(Loss) from Associates | -14.97 | -78.21 | 80.86 | -130.98 | -231.01 | 43.30 | | PBT before EO | 324.42 | -349.49 | LP | 988.62 | 649.86 | 52.13 | | EO Income | -161.98 | -97.48 | -66.17 | -110.58 | -509.25 | 78.29 | | PBT after EO | 162.44 | -446.97 | LP | 878.04 | 140.61 | 524.45 | | Taxation | 74.48 | 56.23 | 32.46 | 283.48 | 211.07 | 34.31 | | PAT | 87.96 | -503.2 | LP | 594.56 | -70.46 | LP | | Minority Interest (MI) | 27.57 | -230.37 | PL | 19.35 | 36.95 | -47.63 | | Net profit | 60.39 | -272.83 | LP | 575.21 | -107.41 | LP | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 60.39 | -272.83 | LP | 575.21 | -107.41 | LP | | EPS (Rs)* | 9.99 | -15.65 | LP | 50.44 | 4.79 | 953.09 | | | * 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 | | | Quarter ended | Year ended |
|---|
| % of (Total) | 202403 | 202303 | Var.(%) | % of (Total) | 202403 | 202303 | Var.(%) |
|---|
| Sales | | Recruitment Solutions | 73.09 | 480.54 | 459.65 | 4.54 | 74.12 | 1,879.95 | 1,749.11 | 7.48 | | 99acres for Real Estate | 14.08 | 92.57 | 75.55 | 22.53 | 13.85 | 351.28 | 284.51 | 23.47 | | Others | 12.82 | 84.31 | 69.58 | 21.16 | 12.03 | 305.11 | 312.07 | -2.23 | | Total Reported Sales | 100.00 | 657.42 | 604.78 | 8.70 | 100.00 | 2,536.34 | 2,345.69 | 8.13 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 657.42 | 604.78 | 8.70 | 100.00 | 2,536.34 | 2,345.69 | 8.13 | | PBIT | | Recruitment Solutions | 128.26 | 260.34 | 274.55 | -5.17 | 137.70 | 1,047.53 | 1,026.53 | 2.05 | | 99acres for Real Estate | -7.48 | -15.19 | -22.11 | 31.31 | -9.05 | -68.85 | -118.50 | 41.90 | | Others | -20.78 | -42.17 | -74.74 | 43.58 | -28.65 | -217.96 | -370.05 | 41.10 | | Total PBIT | 100.00 | 202.98 | 177.69 | 14.23 | 100.00 | 760.72 | 537.98 | 41.40 | | Less : Interest | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Add: Other un-allcoable | | -40.54 | -624.66 | 93.51 | | 117.31 | -397.37 | LP | | PBIT Margin(%) | | Recruitment Solutions | | 54.18 | 59.73 | -555.23 | | 55.72 | 58.69 | -296.76 | | 99acres for Real Estate | | -16.41 | -29.27 | 1,286.24 | | -19.60 | -41.65 | 2,205.17 | | Others | | -50.02 | -107.42 | 5,739.51 | | -71.44 | -118.58 | 4,714.32 | | PBT | 100.00 | 162.44 | -446.97 | LP | 100.00 | 878.03 | 140.61 | 524.44 |
|
|