Info Edge reports a Q2 net profit of ₹94 Crore and an increase in operating revenue of 65%

Info Edge: During the previous quarter, the company had reported a net profit of 7,372.2 crore.

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In the third quarter of the fiscal year 2022–23, Noida–based Info Edge, which operates Naukri.com and Jeevansathi.com, reported a net profit of Rs.93.9 crore. The public offering of the foodtech Zomato, in which InfoEdge maintains a sizeable investment, resulted in an unusual gain of Rs.8,269.2 crore, according to the firm, thus this is not comparable with the earnings of the September quarter of 2021.

In the same quarter a year ago, the company had reported a net profit of Rs.7,372.2 crore.

During the September quarter (Q2) of the fiscal year 2022-2023, Info Edge’s net profit decreased 67% quarter-over-quarter (QoQ).

According to a statement from the corporation, operating revenue increased by 65% during the September quarter to Rs.604.1 crores, compared to Rs.366 crores during the same period of the previous fiscal year.

According to the company’s statement, total expenses increased by 90% to Rs.522.8 crores in Q2 FY23 from Rs.275.8 crores in the same quarter last year. In comparison to the September quarter of FY22, when marketing expenses were Rs.61.8 crore, they increased by about 70% to Rs.105 crore.

The company reported that staff spending, which increased 71% year over year (YoY) to Rs.300 crore, made up the largest portion of the total expenditures.

The company’s shares increased by 7.46% to Rs.4,099.65 on Friday during trade and by as high as 5.14% over the previous five days.

Based in Noida, Uttar Pradesh, Info Edge (India) is a pure-play internet company in India. Sanjeev Bikhchandani created it in 1995. The business operates the websites Naukri.com, Jeevansathi.com, 99Acres.com, which lists real estate listings, AmbitionBox.com, which helps people find jobs, and Shiksha.com, which offers educational resources.