Info Edge India Q1 Results Review - Broadly Inline; Green Shoots In IT Related Hiring: Centrum

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Centrum Broking Report.Info Edge India Ltd. reported broadly inline performance for the quarter. It reported revenue of Rs 6,389 million( up 5.0% QoQ, up 9.3% YoY). The sequential growth was led by 4.3% QoQ growth in revenue of Recruitment business; 6.2% QoQ growth in revenue of 99acres segment and 9.2% QoQ growth in revenue of Jeevansathi segment. The number of resumes have reached 100 million versus 98 million in Q4 FY24. Ebitda margin declined by 154 bps QoQ to 39.0% on higher marketing cost ( up 23.7% QoQ). Reported billings of Rs 5.8 billion( up 10.7% YoY), led by 8.4% YoY growth in Recruitment billings and 10.4% YoY increase in billings for 99acres and 28.6% YoY growth in billings of ( Jeevansathi + Siksha). Reported PAT of Rs 2,323 million versus Rs 2,109 million in Q4 FY24. It is seeing some green shoots with regard to IT related job postings on its portal. The losses in Jeevansathi and 99acres continue to come down even as billings growth momentum sustained. The new strategy for Jeevansathi is yielding results as traffic and billings continue to grow as it aims to breakeven in FY25. We expect revenue/Ebitda/PAT to grow at 16.2%/16.7%/16.7% over FY24-FY26E. We have revised our FY25E/FY26E EPS by (0.3%)%/1.5%. We maintain Add Rating on the stock with revised target price of Rs 7,797/share (versus Rs 6,552 earlier) arrived through SOTP method on FY26E Estimates..Click on the attachment to read the full report:.Info Edge (India) Q1 Results: Profit Jumps Over 47%, Margin Stays flat.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Info Edge India Q1 Results Review - Broadly Inline; Green Shoots In IT Related Hiring: Centrum

Both 99acres and Jeevansathi are expected to breakeven over next one to two years and that will support operating margin, says the brokerage.

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Info Edge India Q1 Results Review - Broadly Inline; Green Shoots In IT Related Hiring: Centrum

Both 99acres and Jeevansathi are expected to breakeven over next one to two years and that will support operating margin, says the brokerage.

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