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Info Edge Annual Report 2023 Summary

Updated: Oct 1, 2023

  • Info Edge pioneers digital penetration in India, focusing on market leadership and strategic investments. FY23 saw impressive growth with 26.81% increase in billings(₹23,662.70M) and 38.16% in revenues (₹21,586.19M) but joint venture profits declined to a loss (₹-2,310.14M), affecting profit before exceptional items (₹6,498.64M).

  • Cash generation from operations rose 14.45% (₹10,385.48M) in FY23. The company holds ₹34,900M in cash and strategically invests in startups, with 70.67% of assets in investments.

  • Naukri.com witnessed steady growth with 31.74% increase in billing (₹19,257.93M) and 23.83% in cash generation from operations (₹12,722.06M) in FY23.

  • IT hiring business experienced growth slowdown, but non-IT sectors like banking, finance, and healthcare thrived. The company is positioned for new opportunities in the recruitment industry.

  • The global economy faces uncertainty, but India is expected to outperform peers with 7.2% real GDP growth in FY23, slowing to 6.5% in FY24. Global IT sector hiring slowed down in H2 FY23, but opportunities in machine learning and AI present potential in FY24.

  • Increased marketing spends (152%) targeted Gen Z audience, showcasing the company's commitment to digital engagement and market expansion.

  • Shiksha.com saw significant growth in billing (₹1,238.56M) and revenues (₹1,168.80M) in FY23, focusing on content quality and user engagement.

  • 99acres.com experienced substantial growth in billing (₹3,116.36M) and revenues (₹2,845.06M) but remained in the investment stage with cash outflow of ₹721.94M.

  • Info Edge launched three Alternate Investment Funds with Temasek Holdings, showcasing a strategic approach to driving growth through investments.

  • Successful IPOs of Zomato and Policybazaar marked a realization of market value for investee companies. The company is evaluating strategic roadmaps for these investments.

  • Investments in brand nurturing increased by 10.68% (₹3,155.39M) but were more efficiently allocated, with costs decreasing to 14.62% of operating revenues in FY23.



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