Info Edge Q1 Results FY2023, PAT at Rs. 2924.31 million

Info Edge Q1 Results FY2023

Corporate Action
by Shreya Anaokar Last Updated: 2022-08-16T14:07:16+05:30

On 12th August 2022, Info Edge announced its quarterly results for the first quarter of FY2023.

Q1FY23 Key Highlights:

-  The Revenue from operations for the first quarter of FY2023 stood at Rs. 5472.65 million, up by 66.54% YoY.

- PBT stood at Rs. 3394.49 million, with a growth of 74% YoY.

- The company reported its PAT at Rs. 2924.31 million, with a growth of 85.5% YoY.

Business Highlights:

- Recruitment vertical reported strong billing growth in the range of 65%-75% for the past 5 consecutive quarters.

- Recruitment business recorded 49% growth in new customers. 

-Billing business witnessed growth across all industry verticals ( IT and Non IT). 

- All acquisitions by Info edge: iimjobs, hirist, Zwayam & DoSelect- reported a stellar performance during the quarter. 

- With increasing traffic of students traveling abroad for studies, Shiksha business teams see strong potential for growth in this market.

Commenting on the results, Mr. Hitesh Oberoi, Managing Director and Chief Executive Officer, Info Edge (India) Ltd said: “The recruitment business continues to grow strongly and we remain optimistic for the current qtr as well.”

Mr. Chintan Thakkar, Whole Time Director and Chief Financial Officer, Info Edge (India) Ltd said: “Consistent superlative growth of billings and profitability for the fifth consecutive quarter is evidence of renewed momentum in the business.”

 


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About the Author

Shreya Anaokar is a Content Writer at 5paisa. She has completed her Master’s in Finance and Graduation in Statistics from the University of Mumbai. 

Disclaimer

Investment/Trading is subject to market risk, past performance doesn’t guarantee future performance. The risk of trading/investment loss in securities markets can be substantial. Also, the above report is compiled from data available on public platforms.

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