Info Edge posts Rs 94-cr net profit in Sept quarter

MUMBAI: Noida-based Info Edge, which runs Naukri.com and Jeevansathi.com, posted a net profit of Rs 93.9 crore in the September quarter of the financial year 2022-23. However, the company said this is not comparable with the profit of September quarter of 2021 because it incurred an exceptional gain of Rs 8,269.2 crore from the public listing of the foodtech Zomato, in which InfoEdge holds a considerable stake. The company had reported a net profit of Rs 7,372.2 crore in the year-ago quarter.

On a quarter-on-quarter (QoQ) basis, Info Edge's net profit declined 67 per cent during the September quarter (Q2) in the financial year 2022-2023 (FY23). The company in a statement said that its revenue from operations surged 65 per cent to Rs 604.1 crore during the September quarter, against Rs 366 crore in the corresponding period of last fiscal last year.

The company in the statement said total expenses jumped 90 per cent to Rs 522.8 crore in Q2 FY23, against Rs 275.8 crore in the year-ago period. Marketing costs surged close to 70 per cent to Rs 105 crore, against Rs 61.8 crore during the September quarter of FY22. The company said the biggest chunk of the total expenditure was employee expenses, which grew 71 per cent year-on-year (YoY) to Rs 300 crore.

On Friday's trading session, the company shares surged 7.46 per cent to Rs 4,099.65 apiece and gained as much as 5.14 per cent in a span of five days. Info Edge (India) is an Indian pure-play internet company, based in Noida of Uttar Pradesh. It was founded by Sanjeev Bikhchandani in 1995. The company runs an online job portal Naukri.com, a matrimony website Jeevansathi.com, a real estate classifieds platform 99Acres.com, a workplace discover platform AmbitionBox.com and an educational website Shiksha.com.