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View All NewsIndia – Info Edge Q4 revenue edges upward with Recruitment Solutions leading the way
Info Edge India Ltd, the Indian job board, reported today standalone revenue from operations for the fourth quarter ended 31 March 2023 of INR 5.64 billion (USD 68.2 million), an increase of 23.8% compared to the same period last year.
| (INR millions) | Q4 2023 | Q4 2022 | Change | Q4 2023 (USD millions) |
| Net Revenue from Operations | 5,639.5 | 4,555.1 | 23.8% | 68.2 |
| Total Income | 6,076.5 | 4,976.1 | 22.1% | 73.5 |
| Profit before exceptional items and tax | 2,500.3 | 1,594.6 | 56.8% | 30.2 |
| Net Profit | 1,789.3 | 1,206.9 | 48.2% | 21.6 |
Revenue including the acquired operating businesses of recruitment software firm Zwayam and assessment platform DoSelect, rose by 24.2%.
Billing for the quarter increased over the year by 15.3%. Including acquired operating businesses revenue increased by 40.3%.
EBITDA increased by 72.1% over the year to INR 2.20 billion (USD 26.6 million).
Info Edge runs job site Naukri.com as well as 99acres.com. The company also runs Jeevansathi.com, a matrimonial portal, Shiksha.com an education portal as well as Quadrangle, an offline executive search business, and Naukri Gulf.
Segment by Revenue
| (INR millions) | Q4 2023 | Q4 2022 | Change | Q4 2023 (USD millions) |
| Recruitment Solutions | 4,376.0 | 3,443.8 | 27.1% | 52.9 |
| 99 acres for real estate | 755.5 | 612.6 | 23.3% | 9.1 |
| Others | 508.0 | 498.7 | 1.8% | 6.1 |
| Total Income | 5,639.5 | 4,555.1 | 23.8% | 68.2 |
Hitesh Oberoi, Managing Director and Chief Executive Officer said, “Billing growth continues to be impacted by slowdown in IT hiring. The rest of the economy continues to be solid. We are particularly happy with the performance of our non-recruitment businesses.”
Info Edge also reported full year net revenue from operations of INR 21.58 billion (USD 261.1 million), an increase of 38.1% over the year. Revenue growth including acquired businesses increased by 40.3%.
Info Edge shares last traded at INR 4,063.95 (USD 49.18), up 4.19% on the day and 12.13% below its 52-week high of INR 4,624.90 (USD 55.96), set on 26 August 2022. The company has a market cap of INR 503.19 billion (USD 6.08 billion).