Info Edge Q4 Review - Billing Trajectory Continues To Improve: ICICI Direct

Employees work in the office in New Delhi, India. (Photographer: Anindito Mukherjee/Bloomberg).

Info Edge Q4 Review - Billing Trajectory Continues To Improve: ICICI Direct

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. 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 Q4 FY21 numbers were below our estimates.

However, the company has seen improving billing growth both on a YoY and QoQ basis.

Billing increased 25.1% YoY, 39.8% QoQ to Rs 415.3 crore, mainly led by 26% YoY growth in recruitment and 41.5% YoY growth in 99 acres billing.

As compared to Q4 FY19 (a pre-pandemic quarter), overall billing was up 15.0%.

Overall revenues on a QoQ basis increased 6.5% QoQ.

Ebitda margins declined from 29.9% in Q4 FY20 to 18.3% (below our estimate of 29.6%) mainly led by wage hike, one-time incentive and higher other expenses.

Click on the attachment to read the full report:

ICICI Direct InfoEdge Q4FY21 Result Update.pdf

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