Naukri.com’s Q4 Surge Lifts Info Edge Shares 7%

Naukri.com, operated by Info Edge, saw a significant surge in its share price, rising over 7% in early trade on Friday. This increase followed the company’s report of an 18% jump in Profit After Tax (PAT) to Rs 211 crore for the March quarter. The shares peaked at an intra-day high of Rs 6,338.10 per share on the National Stock Exchange (NSE).Info Edge reported an 18% year-on-year increase in standalone profit to Rs 211 crore for the March quarter, with revenue growing by 7.9% to Rs 608.3 crore. Operating profit margins also improved to 37% of revenue, and the company recorded an 8.9% growth in operating profit on a standalone basis, reaching Rs 224.8 crore compared to Rs 206.3 crore in the same quarter of the previous year.

In terms of revenue growth, the recruitment business saw a 3.4% increase year-on-year, while non-recruitment business verticals such as 99acres.com, Jeevansathi.com, and Shiksha.com experienced growth rates of 22.5%, 29.2%, and 22.2%, respectively. Billing for the company on a standalone basis for the quarter increased by 10.5% year-on-year, reaching Rs 826.9 crore.

Nomura released a report on Info Edge India, maintaining its buy rating on the stock and raising the target price to Rs 6,750 from Rs 6,210. The report highlighted robust billing growth across all segments, with positive signs of turnaround in the IT billing segment and a strong recovery in the real estate sector. Other verticals, including matrimony and education, also demonstrated consistent growth, contributing to the positive outlook for Info Edge India.

In terms of stock performance, Info Edge India shares showed positive returns across various time frames. Over the past month, the stock provided an 8.70% return, indicating stability and growth potential. The last six months witnessed even more impressive results, with a substantial increase of 29.34%. Year-to-date, Info Edge India shares surged by 21%, showcasing positive momentum in the current fiscal year. Over the last twelve months, the stock delivered an impressive return of over 62%, emphasizing sustained growth and attractiveness to investors.

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