Info Edge Q2 net rises 2,147% to Rs 7,371 cr on the back of Zomato gains
.jpg)
Sanjeev Bikhchandani-led Info Edge saw its net profit rise 2,147 per cent to Rs 7,371 crore year-on-year (YoY) in the September quarter. It reported an unrealised market gain of Rs 8,941 crore from its stake in foodtech company Zomato in the second quarter. The company registered a gain of Rs 357 crore from the sale of its shares in the Zomato initial public offering.
The company reported profit before tax (before exceptional items) of Rs 139.2 crore for the quarter ended September, compared to Rs 65.4 crore in the year-ago period.
Info Edge’s revenue from operations rose 26 per cent to Rs 364 crore in the September quarter, compared to the year ago period. Its operating EBITDA rose 106.2 per cent from Rs 51.6 crore in Q2FY21 to Rs 106.3 crore in Q2FY22.
Commenting on the results, Chintan Thakkar, CFO of Info Edge, said, “We are excited to witness billing growth of 61.3 per cent on YoY basis during the quarter, led by recruitment solutions 73.9 per cent, 99acres 45.9 per cent, and Shiksha 74.7 per cent. As compared to pre-pandemic levels, i.e. Q2FY20, billing growth is 33.9 per cent, led by recruitment solutions 38.8 per cent and 99acres 12.5 per cent”.
Other Latest News
.webp)
Nearly nine years ago, Paytm founder and CEO Vijay Shekhar Sharma had remarked, "We are as Indian as Maruti," in an interview with PTI, responding to queries about the company's ownership structure at that time. That statement, once seen as symbolic, now reflects the reality, one where Paytm stands as a truly Indian company, both in spirit and shareholding.
.webp)
Congress MP Rahul Gandhi was granted bail on Wednesday by the MP-MLA court in Jharkhand's Chaibasa in a defamation case. The case was related to his alleged remarks against Union Home Minister Amit Shah during a political rally held in 2018.
“Rahul Gandhi ji appeared before the court as per the direction from the Jharkhand High Court. He had sought bail, which was granted. We will now take the process ahead,” said the Congress MP’s counsel.
.webp)
US President Donald Trump on Tuesday announced he would raise tariffs on Indian imports “very substantially” within the next 24 hours, citing New Delhi’s ongoing imports of Russian oil.
“They're fueling the war machine, and if they're going to do that, then I'm not going to be happy,” Trump told CNBC in an interview. He also criticised India’s existing tariff structure, calling it the primary point of contention.
.webp)
The Congress on Wednesday said the Opposition's demand for a discussion on the "votebandi" by the Election Commission is "non-negotiable" in both Houses of Parliament.
There has been a logjam in Parliament over the Special Intensive Revision of electoral rolls in Bihar, which the Opposition has alleged is being done to cut votes ahead of the state election.
.webp)
The Supreme Court strongly criticised an Allahabad High Court judge for permitting criminal proceedings in what was "clearly a civil case". The top court called his reasoning "shocking" and found his understanding of criminal law to be deeply flawed, Bar and Bench reported.
The apex court also directed the Chief Justice of the High Court to remove Justice Prashant Kumar from all criminal matters and ordered that such cases should not be assigned to him in the future.
.webp)
.webp)
.webp)
.webp)
.webp)
