Info Edge Q4 results: Scrip rally 9% as net loss widens to ₹272.8 Cr, Board declares ₹9 dividend
1 min read 26 May 2023, 03:00 PM ISTInfo Edge India is a large cap company that deals in the Consumer Discretionary sector.
PremiumInfo Edge India is a large cap company that deals in the Consumer Discretionary sector. The company on Friday reported a consolidated net loss of ₹272.8 Cr as against a net profit of ₹629 quarter but a net loss of ₹116.5 Cr in December 2022 quarter.
For the quarter under review or Q4FY23, revenue grew by 28% to ₹605 crore. At the same time as the previous year, the revenue from operations was ₹473 crore. The firm reported a 2% QoQ increase in revenue from Rs. 589.5 crore in Q3 FY23 to Rs. 604.7 crore in Q4 FY23. EBITDA was down 1.6% at ₹185.4 cr in December 2022 quarter Vs ₹188.5 cr in March 2023 quarter (QoQ).
“The Board has approved date of the 28th Annual General Meeting as Friday, August 25, 2023. The Board has also recommended a Final Dividend of Rs. 9/- per share (on face value of Rs.10/- per share) for the financial year 2022-23 subject to declaration of the same by the members at the 28th Annual General Meeting of the Company. Record date for the purpose of determining the name of the members eligible for receipt of the Final Dividend will be Friday, July 28, 2023. Accordingly, shareholders whose name appear (a) as Beneficial owners as on Friday, July 28, 2023 (close of business hours) as per the list to be furnished by the Depositories in respect of shares held in electronic form, and (b) as members in register of members of the Company as on Friday, July 28, 2023 (close of business hours) would be entitled for the said dividend pay-out," said Info Edge India in a stock exchange filing.
While announcing the results, Mr. Hitesh Oberoi, Managing Director and Chief Executive Officer said - “Billing growth continues to be impacted by slowdown in IT hiring. The rest of the economy continues to be solid. We are particularly happy with the performance of our Non recruitment businesses.“
The shares of Info Edge India were trading at ₹4218.05 apiece on the BSE while writing this copy with an upside gap of 8.16%.
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