InvestorQ : How did Info Edge report such a huge profit in this quarter ended Sep-21?
NISHA Nayak made post

How did Info Edge report such a huge profit in this quarter ended Sep-21?

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Priyanka N answered.
3 weeks ago
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Info Edge India, the owner of formidable online brands like Naukri.com and 99acres.com, reported 39.5% rise in total revenues for Sep-21 quarter at Rs.364 crore. If you look at the top line for the first half of FY22, sales were up 26.6% at Rs.691 crore. The real metrics for digital companies is the overall billing, and that was up 61% at Rs402.3cr. The billing growth was driven 73% by Naukri.com., 45.9% by 99acres.com and 74.7% by Shiksha.

Let me turn to your question of what drove their big profits to Rs.7,371 crore in the Sep-21 quarter. This is largely on account of an exceptional gain of Rs.8,269 crore in the quarter. This gain came from the sale of stake in Zomato as well as a reassessment of the fair valuation of Zomato holdings post listing. Info Edge also got a deferred tax credit of Rs.928 crore in the quarter and could get another windfall this quarter from Policybazaar listing.

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