Info Edge Sees 2X Net Profit Growth In Q3 FY21; Plans More Investments

Info Edge earned INR 679 Cr in revenue, with expenses marginally increasing INR 223.3 Cr

The online classifieds company is also looking to acquire 12.3% stake in real estate tech company 4B Networks for INR 9 Cr

On a standalone basis, it has reported a 36.5% increase in its net profit on a quarterly basis

Noida-based online classifieds company Info Edge has reported 107% increase in its consolidated profit on a quarterly basis in the third quarter of financial year 2021. It’s net profit has doubled from INR 328 Cr in Q2 to INR 679 Cr in Q3.

The company’s revenue has also increased 7.4% from INR 289.8 Cr to INR 311.4 Cr in the same time period, while its expenses have marginally decreased 0.2% to INR 223.3 Cr.

On an year-on-year basis, Info Edge’s revenue has decreased 13.4% and expenses fell by 10%. The company had reported a net loss of INR 62.1 Cr in the financial year 2020.

Profit before tax in Q3 FY21 stood at INR 87.45 Cr, down by 21.4% from INR 111.24 Cr from the year-ago…