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February 13, 2021
Info Edge (India) Limited clocked consolidated revenues of Rs. 277.6 crore, down 17% YoY and up 6% QoQ for the quarter ended December 31, 2020. Consolidated total income amounted to Rs 311.4 crore, which was down 13% YoY and up 8% QoQ. InfoEdge is an investor in food delivery company Zomato as well as in insurance platform PolicyBazaar.
Billings for the quarter stood at Rs 297 crore, recovering 19% over the previous quarter and remaining flat over the previous year. Recruitment and 99acres are nearing pre-pandemic levels on a YoY basis. Chintan Thakkar, CFO, Info Edge said. Consolidated Net Profit stood at Rs 679 crore, a drastic improvement from losses of Rs 62.1 crore in the same quarter the previous year. Net Profit also doubled from Rs 328 crore in the previous quarter.
1. For the quarter, Revenue from operations increased by 23% (21% in constant currency) as compared to corresponding quarter of the previous year, led by volume and value growth in the branded business. The Group s business segments catering to out of home consumption continue to be adversely impacted, with progressive recovery from the earlier lows. Profit before exceptional items and tax at Rs 298 Crores is higher by 13% as compared to corresponding quarter of the previous year, mainly on account of growth in revenue and good control over expenditure despite record tea cost inflation in India. Lower tax provision in the current quarter is on account of one time credits and profit mix. Group Consolidated Net Profit is higher by 29%.