Info Edge shares surge 8% after strong q3 numbers, spurt in volume

Shares of Info Edge (India) Ltd surged nearly 8 per cent to the day's high of Rs 4739 per share in Monday's intraday trade on back of good q3fy22 numbers. Shares of the leading internet company surged on Monday after It posted a 48 percent YoY growth in revenues to Rs 403 crore for the third quarter on the back of good momentum in its recruitment business. 

“This is the third quarter in a row that has witnessed stellar billing growth and great momentum, particularly in the recruitment business. The sustained focus on growing efficiently and investing for future is reflected in our swelling billings and cash profits," said Chintan Thakkar, Whole Time Director and Chief Financial Officer, Info Edge (India) Ltd. 

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Adjusted profit grew 6.9% QoQ to Rs 108 crore compared to Rs 101 crore posted in September 2021 quarter. Revenue from operations grew 14.5% QoQ to Rs 403 crore against Rs 352 crore posted in the previous quarter.  

EBITDA grew 5.6% QoQ to Rs 112 crore against Rs 106.1 crore posted last year. Margin contracted to 27.8% in Q3FY22 from 30.1% posted in Q2FY22. Exceptional Items fell 97.7% to Rs 218 crore against Rs 9,294 crore 

“Since our IPO 15 years ago, IT hiring has never been as bullish as it is now and it shows no signs of slowing down. Non-IT hiring is also picking up as well and so far, Omicron has not impacted business,” said Hitesh Oberoi, Managing Director and Chief Executive Officer, Info Edge (India) Ltd, post q3 result announcement. 

Info Edge India shares are trading close to its 52-week low value of Rs 4,027 a share on the BSE after touching 52-week high of Rs 7,462.95 on October 19, 2021. 

At 12.20 pm, shares of InfoEdge were trading with a gain of Rs 351.75 or 7.97% to 4765 per share on the BSE.  

Incorporated on May 1, 1995, Info Edge (India) Private Limited became a public limited company on April 27, 2006. It is one of the leading internet services provider and boasts of a diversified business portfolio. Starting with a classified recruitment online business, naukri.com, Info Edge has grown and diversified rapidly to matrimony, real estate, education and related services.