Info Edge shares rose 7.46 per cent to Rs 4,099.65 on Friday. (Representative)
Noida:
Noida-based Info Edge, which runs Naukri.com and Jeevansathi.com, reported a net profit of Rs 93.9 crore in the September quarter of FY 2022-23. However, the company said this is not comparable with the September quarter profit of 2021 as it got an extraordinary Rs 8,269.2 crore profit from the public listing of foodtech Zomato, in which InfoEdge has a substantial 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 by 67 per cent during the September quarter (Q2) to the financial year 2022-2023 (FY23).
Its revenue from operations grew 65 per cent to Rs 604.1 crore during the September quarter, as against Rs 366 crore in the same period last fiscal, the company said in a statement.
The company said in the statement that total expenses increased by 90 per cent to Rs 522.8 crore in the second quarter of FY23, as against Rs 275.8 crore in the year-ago period. Marketing cost increased by nearly 70 per cent to Rs 105 crore as against Rs 61.8 crore during the September quarter of FY12.
The company said that the biggest chunk of total expenses was employee expenses, which grew 71 per cent year-on-year (YoY) to Rs 300 crore.
In Friday’s trading session, the company’s stock rose 7.46 per cent to Rs 4,099.65 and gained as much as 5.14 per cent in the five-day period.
Info Edge (India) is an Indian pure-play Internet company based in Noida, Uttar Pradesh. It was founded by Sanjeev Bikhchandani in 1995. The company operates an online job portal Naukri.com, a matrimonial website Jeevansathi.com, a real estate classifieds platform 99Acres.com, a workplace discover platform AmbitionBox.com and an educational website Shiksha.com. ,
(Except for the title, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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