Info Edge reports Rs 205 crore profit in Q2FY24; Know the revenue

Info Edge, which has stakes in Zomato and Delhivery, said its net profit soared by 99.1% to Rs 205.13 crore, a substantial increase from Rs 103.01 crore in the same quarter of the previous fiscal year.

The company's revenue from operations saw a modest rise of 3.6%, reaching Rs 625.85 crore compared to Rs 604.12 crore in the corresponding quarter last year.

Notably, the revenue growth is reflected in the company's EBITDA, which stood at Rs 205 crore for the quarter. The total income for the quarter was reported at Rs 792.01 crore, with total expenses amounting to Rs 455.34 crore.

Dividend declaration

Info Edge announced an interim dividend of Rs 10 per share, with eligibility determined by the November 17, 2023, record date and payments starting from November 29, 2023. The company's standalone operational revenue rose 11.5% to Rs 593 crore from Rs 531.8 crore year-on-year.

The company also reported a 25.2% revenue increase in its real estate segment,, and a 9.1% growth in recruitment year-on-year. Quarterly billing also rose by 4.8% to Rs 569 crore.

Hitesh Oberoi, the Managing Director and CEO of Info Edge attributed the reduced burn in the 99acres and Jeevansathi businesses to good execution, which contributed to the company's strong performance.