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Informist, Tuesday, Feb. 10, 2026

 

By Shakshi Jain

 

NEW DELHI – Consumer internet company Info Edge (India) Ltd. is expected to post a moderate sequential rise in recurring net profit as well as revenue from operations for the December quarter, driven by better performance across all its business segments.

 

Amid subdued hiring in the information technology sector, growth in the company's core recruitment business was likely led by global capability centres and sectors such as retail and manufacturing, according to analysts. Among other businesses of the company, real estate platform 99acres likely sustained revenue growth in the quarter with customer additions and higher realisations while matrimonial services platform Jeevansathi is expected to have retained a positive cash flow with controlled marketing spends, brokerages said.

 

Info Edge's sequential net profit growth for the December quarter is expected to be slightly higher than its revenue growth owing to better operating margins in 99acres and Jeevansathi, according to brokerages.

 

The company is expected to report a standalone net profit of INR 2.70 billion for the quarter, according to the average of estimates from six brokerages. This would mean sequential growth of 3.6?ter excluding the exceptional item and the deferred tax charge the company had reported for the September quarter. On a year-on-year basis, this would mean a growth of 4.2%.

 

The company's standalone top line for the December quarter is expected to rise 2.3% sequentially and almost 14% on year to INR 7.63 billion, as per the estimates. 

 

ICICI Securities Ltd. has the highest top-line and bottom-line estimates for Info Edge for the December quarter at INR 7.77 billion and INR 2.8 billion, respectively. JM Financial Institutional Securities Pvt. Ltd. has the lowest revenue and net profit estimates at INR 7.54 billion and INR 2.61 billion, respectively.

 

For the September quarter, the company had reported a net profit of INR 47.20 billion on a revenue of INR 7.46 billion. This was inclusive of a substantial one-time income of INR 52 billion and a deferred tax charge of INR 7.4 billion. For the December quarter a year ago, the company had registered a net profit of INR 2.59 billion on a revenue of INR 6.72 billion.

 

Info Edge operates online businesses in multiple categories. It offers recruitment services through Naukri, which is its largest business segment. It is present in the real estate space through 99acres, in the education space through Shiksha, and provides matchmaking services through the Jeevansathi platform.

 

OPERATIONS, MARGIN

Info Edge's standalone billings in the December quarter rose 11.8% on year to INR 7.47 billion, the company had said in an exchange filing earlier this month. Among the segments, billings in the recruitment solutions business grew 11% on year to INR 5.48 billion in Oct-Dec and those in the real estate business improved 14.4% on year to INR 1.17 billion.

 

Brokerages said the near-12% year-on-year billings growth in the core recruitment segment for Oct-Dec was in line with the trailing quarter but slower than the mid-teens on-year growth recorded in FY25 due to subdued hiring in the IT sector. Kotak Securities Ltd. expects revenues from Jeevansathi to grow 25% on year and contribution from Shiksha to improve by 12%. "99acres and Jeevansathi are likely to operate close to breakeven in 3Q (Oct-Dec)," Motilal Oswal Financial Services Ltd. said.

 

Info Edge is expected to report INR 3.06 billion in earnings before interest, tax, depreciation, and amortisation for the December quarter, according to the average of six estimates. The highest EBITDA estimate is INR 3.20 billion by ICICI Securities and the lowest is INR 2.96 billion by JM Financial. In the September quarter, the company had recorded an operating profit of INR 2.68 billion with a margin of 35.9%.

 

"While we expect margins to remain stable on a sequential basis in the recruitment segment there could be some pressure on a YoY basis due to modest billing trends in recent quarters," JM Financial said. Info Edge will announce its December quarter earnings Friday.

 

Tuesday, shares of Info Edge closed 1.4% higher at INR 1,194.30 on the National Stock Exchange. The stock is down over 13% since the company reported its September quarter results. It is also down almost 24% from its 52-week high of INR 1,571.18, recorded on Feb. 11, 2025.

 

Of the eight research reports on Info Edge available with Informist, seven have a "buy" recommendation on the stock and one has a "hold" call. The average target price of the "buy" recommendations is INR 1,542, nearly 29% higher than Tuesday's closing price.

 

Following are the Oct-Dec earnings estimates for Info Edge, in INR billion, from six brokerages in descending order of the net profit estimate:

 

Broking Firm	Net Sales	Net Profit	EBITDA
ICICI Securities Ltd.	7.77	2.80	3.20
Nuvama Wealth Management Ltd.	7.62	2.77	3.12
Motilal Oswal Financial Services Ltd.	7.67	2.71	2.98
Kotak Securities Ltd.	7.59	2.69	3.07
HDFC Securities Ltd.	7.61	2.66	3.04
JM Financial Institutional Securities Pvt. Ltd.	7.54	2.61	2.96
Average	7.63	2.70	3.06

 

End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Rajeev Pai

 

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