Info Edge, the owner of the largest online job portal, Naukri.com, has released outstanding financial results for the fourth quarter ended 31 March 2024. The company reported a consolidated net profit of INR 87.9 crore, which is a tremendous change from the loss of INR 503.1 crore in the previous year.
Profit Surge and Revenue Growth
Info Edge’s net profit surged to INR 87.9 crore, which reflects good business operations and strategic outlays in Q4 FY24, which is a testament to this. The company had a consolidated revenue increase of 8.7% to INR 657.42 INR recorded during the quarter, compared to 604.78 INR in the previous quarter.
Business Verticals
- Recruitment Business: The recruitment stage saw a 3.4% year-on-year growth, which subsequently impacted the overall good performance.
- Non-Recruitment Verticals:
- 99acres.com: The real estate vertical grew up by 22.5%.
- Jeevansathi.com: A rise in the matrimony business was 29.2% growth.
- Shiksha.com: A 22.2% increase was recorded in the revenue in the education business.
Investment Valuation
In FY24, Info Edge’s investments proved successful. In a few years, the value of its investment in Zomato rose to INR 15,731 crore from a loss of INR 3,759.4 crore last year. Likewise, the amount invested in PB Fintech was INR 1,335.5 crore during FY23.
Outlook and Way Forward
Hitesh Oberoi, Managing Director and CEO of Info Edge, remains optimistic about the recruitment sector’s recovery. There was a noticeable fall in operational losses across key verticals. The company’s annual operating revenue shot up by 8.12% to INR 2,536.34 crore in FY24.
Ways Info Edge turnaround losses
Info Edge went beyond its Naukri job portal. Com and diversified into other business domains, such as real estate (99acres. com), matrimony (Jeevansathi.com), e-commerce (Naukri.com), and education (Shiksha. Com). Diversification enabled the organization to reduce risks and create new revenue streams simultaneously.
The company concentrated on cost control and operational efficiency. By streamlining processes, eliminating unnecessary expenses, and allocating resources optimally, Info Edge improved its bottom line. It also invested in startups with future potential. During this reporting period, it profited from Zomato and PB Fintech (Policy Bazaar). The economic gains of these holdings helped to improve overall financial performance.
The economic recovery with rising employment activity positively affected Info Edge’s recruitment business. With the resumption of hiring for the companies, Naukri com became a dealer of jobs and premium services. The organization implemented digital transformation, which led to improved user experience on all its platforms. Good website features such as apps and customized services attracted more viewers and advertisers.
Info Edge took community building very seriously. For instance, Jeevansathi.com Crush’s emphasis on tailored matchmaking services resulted in more engagement and higher subscription income. Hitesh Oberoi, the CEO, and the management team were crucial figures. Those plans, adaptability, and proactive decision-making formed the basis of the company’s ability to make a profit.
Conclusion
The fourth quarter results of Info Edge indicate a remarkable turnaround, which is the result of insightful investment and successful business operation. Through a positive disposition, the Company leads the digital landscape in India.
Info Edge’s recovery was a mix of diversification, cost cuts, intelligent investments, and an unwavering leadership team. The quick ability to mold its operations with changing market dynamics and grab development opportunities has been the critical factor in the company’s success.
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