Info Edge Posts Rs 116.5 Cr In Losses During Q3 FY23

Info Edge on Friday reported its consolidated financial results for the quarter ending 31 December 2022. The company in the Q3 registered Rs 116.5 crore in consolidated losses.

The company behind entities such as Naukri.com, Jeevansathi.com said that the losses were due to write-off investment in property tech startup 4B Networks, dip in valuation of some investments and slowing down of the job market.

Info Edge’s revenue for the Q3 stood at Rs 555.2 crore, up 33.4 per cent YoY. Its YTD Revenues stood at Rs 1594.7 crore, YoY growth of 44.1 per cent.

Meanwhile, the company’s EBITDA for the quarter stood at Rs 216.8 crore, a growth of 79.3 per cent YoY. YTD EBITDA stood at Rs 564 Cr, YoY growth of 68 per cent.

Cash from Operations for the quarter was noted to be at Rs 241.8 crore. YTD Cash generation stood at Rs 625.7 crore, a YoY growth of 17.4 per cent.

In the quarter, billing for Shiksha stood at Rs 27.8 crore, a YoY growth of 8.5 per cent. YTD Billing stood at 82.9 cr, a YoY growth of 22.4 per cent.

Meanwhile, 99acres reported a billing of Rs 71.1 crore for the Q3, a growth of 15.7 per cent. YTD Billing stood at 207.9 crore, a YoY growth of 36.8 per cent.

Jeevansathi reported billing of Rs 17.1 crore for the quarter, a YoY decline of 30.1 per cent in YTD . YTD Billing stood at Rs 51.7 crore a YoY decline of 30.1 per cent.