Info Edge (India) Ltd posts standalone adjusted net profit (excluding one-time loss) of Rs56.6cr in Q4FY18, vs. net profit (adjusted) of Rs70.3cr in the preceding quarter : Misses Estimates

The company’s standalone revenue stood at Rs240.66 cr, up 5.94% qoq and 15.47% yoy.

May 30, 2018 08:05 IST India Infoline Research Team

Info Edge (India) Ltd Q4FY18

Standalone Results Q4FY18: (Rs in cr)

Q4FY18 QoQ (%)
Revenue 240.66 5.9
EBITDA 59.34 [24.7]
EBITDA Margin (%) 24.7 [1000]
Adjusted Net profit 56.58 [19.5]
***EBITDA margin change is bps
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Reco. Price

1177.9

Last updated on

25-May-2018


For Q4FY18, Info Edge’ standalone sales grew by 15.5% yoy and 5.9% qoq to Rs240.7cr. EBITDA declined by 6.1% yoy and 24.7% qoq to Rs59.3cr. EBITDA margins dropped from 30.3% in Q4FY17 to 24.7% in Q4FY18, on sequential basis margins declined by ~1,000bps. The company reported a net loss of Rs13.76cr as against a profit of Rs32.9cr in Q4FY17. One-time loss due to diminution in the carrying value of investments in Startup Investment (Holding) Ltd. amounting to Rs70.2cr led to the net loss. Excluding the exceptional item, net profit has grown by 53.5% yoy and declined 19.5% qoq to Rs56.6cr.

• Revenue growth on yoy basis was driven by 12.7% increase in Naukri revenues to Rs175cr. Growth in billing was 12.6% yoy, in-line with the past five quarters. Segment PBT grew by 7.6% yoy to Rs90.8cr. However, margin dropped from 54.3% in Q4FY17 to 51.8% in Q4FY18.
• 99acres reported strong revenue growth of 35.7% yoy, revenue came in at Rs37cr. Billing growth was healthy at 43% yoy.  Its PBT losses widened to Rs14.9cr from Rs12.5cr during corresponding quarter of the last year.
• EBITDA was largely affected by sharp yoy and qoq increase of 120% and 87% respectively in advertising cost (for brand promotions) to Rs47.8cr in Q4FY18.
• Other income stood at Rs22.5cr vs. Rs11.3cr in Q4FY17 and Rs21.9cr in Q3FY18.

Technical View:

Info Edge (India) Ltd is currently trading at Rs. 1,268.90, up by 26.15 points or 2.1% from its previous closing of Rs. 1,242.75 on the BSE.
The scrip opened at Rs. 1,232 and has touched a high and low of Rs. 1,277.65 and Rs. 1,215 respectively. So far 1,99,413 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 100 DMA.

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