Info Edge (India) Limited announces Q2 FY21 results for the quarter ended Sep 30, 2020

Info Edge (India) Limited today announced results for the quarter ended Sep 30, 2020.

Quarter Ended on Sep 30, 2020

- Billing at ₹249.5 crore, down by 17.0% over the corresponding quarter in FY 2019-20.

- Net sales (Revenue) at ₹256.1 crore, down by 19.1% over the corresponding quarter in FY 2019-20.

- Total Income at ₹282.4 crore, down by 16.9% over the corresponding quarter in FY 2019-20.

- Operating EBITDA at ₹51.6 crore, down by 48.1% over the corresponding quarter in FY 2019-20.

Info Edge recorded Billing of ₹249.5 crore for the quarter ended Sep 30, 2020 compared to ₹300.5 crore in quarter ended Sep 30, 2019, down by 17.0%. Net Sales (Revenue) of ₹256.1 crore for the quarter ended Sep 30, 2020 compared to ₹316.6 crore in quarter ended Sep 30, 2019, down by 19.1%. The deferred sales revenue (amount collected in advance) as at Sep 30, 2020 is ₹371.9 crore, down by 22.6% over the quarter ended Sep 30, 2019. Operating EBITDA has decreased by 48.1% from ₹99.3 crore (Q2, FY 2019-20) to ₹51.6 crore. The company reported PBT (before exceptional item) of ₹65.4 crore for the quarter ended Sep 30, 2020 compared to ₹110.7 crore for quarter ended Sep 30, 2019.

Commenting on the results, Mr. Chintan Thakkar, CFO said "We are pleased to see gradual recovery of billings across all businesses. The QoQ billings have grown by 32.3%."

Shares of INFO EDGE (INDIA) LTD. was last trading in BSE at Rs.3518.85 as compared to the previous close of Rs. 3633.85. The total number of shares traded during the day was 24606 in over 3207 trades.

The stock hit an intraday high of Rs. 3670 and intraday low of 3405. The net turnover during the day was Rs. 86884637.

Source : Equity Bulls

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