The shares of the IT company Info Edge saw a notable increase, rising almost 10% when the company’s fourth-quarter (Q4) business update for FY24 was released on April 7.
According to the update, Info Edge reported a robust 5.48% year-on-year (YoY) growth in standalone billings for Q4 FY24, amounting to ₹2495.9 crore compared to ₹2366.3 crore in the corresponding period last year.
Info Edge released this preliminary data in an exchange filing, even though the actual financial results for the specified time are still awaiting approval by the company’s Board of Directors, Statutory Auditors, and Audit Committee.
When the quarterly performance is broken down, the standalone billings for the quarter that ended on March 31, 2024, showed a noteworthy increase of more than 10%. The amount of billings increased to ₹826.9 crore from ₹748.6 crore during the same time last year.
Info Edge shares continued to rise as of 11:39 am, closing 9.70% higher at ₹6,224.95.
