Info Edge

After posting profits for 3 quarters in FY18, Info Edge posts loss of Rs 13.7 Cr in Q4

Info Edge

While Info Edge had posted a net profit of Rs 500.9 crore in the financial year 2017-18, the last quarter of the aforementioned FY was loss-laden. The parent company of popular job searching and posting platform – has reflected a net loss of Rs 13.7 crore on a standalone basis for the quarter ended March 2018.

The last quarter of preceding fiscal was the only loss-making one for Info Edge. The company had posted a net profit of Rs 53.35 crore in October-December 2017 and Rs 78.55 in quarter 2 of FY18. During the first quarter of last FY, it posted a net profit of Rs 64.23 crore.

As far as total income for last quarter of FY18 is concerned, the Noida-based company has recorded a spike of about 19.7 per cent to Rs 261.3 crore as compared to the same period a year ago.

The group’s real estate platform 99acres revenue has grown 43 per cent to Rs 52 crore against Rs 34.1 crore in quarter 3 of FY18. According to the company’s filings, 99acres had recorded a revenue growth of 54 per cent and 43 per cent, respectively as compared to same period in FY17.

Cashing in on its early investment, Info Edge last year diluted $50 million worth equity in Gurugram-based ‘Unicorn’ Zomato. The group had diluted 30.91 per cent equity after $200 million infusions from Alibaba in the foodtech company.

It’s also expected to gain many multiples on its investment in fintech platform PolicyBazaar. The Gurugram-headquartered company is slated to go public in a year time.

Last year, the group invested in portfolio companies including Happily Unmarried and Meritnation. While it injected about Rs 38 crore fresh funds in online education platform, its follow-up round in millennial-focused lifestyle startup remained unknown.

The development was first reported by Mint via PTI.

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