BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
Info Edge India Ltd.’s Q1 FY21 numbers were above our estimates.
Revenues declined 10.4% YoY to Rs 280.1 crore (above our estimate of Rs 221.1 crore).
Recruitment solutions declined 8.8% YoY to Rs 200.2 crore (versus our estimate of Rs 142.7 crore) and 99 acres declined 24.7% YoY to Rs 42.5 crore (versus our estimate of Rs 36.7 crore).
However, other verticals grew 1.7% YoY to Rs 37.5 crore (versus our estimate of Rs 41.7 crore).
Ebitda margins increased approximately 504 basis points QoQ to 37.3% (above our estimate of 14.5%) mainly led by lower advertising (down 841 basis points YoY) and other expenses (down 156 basis points YoY).
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