Naukri’s revenues were recorded at Rs 608.3 crore, a 7.9% growth from the same period last year and the company also announced a dividend of Rs 12 per share for the financial year 2024.
“Our cash from operations grew by 13.2% year-over-year in Q4FY24, reaching a cash balance of Rs 4,191 crore as of March 31st, 2024. This consistent performance in cash flow generation underscores our company’s robust financial health and positions us well for future investments and shareholder returns,” Info Edge CFO Chintan Thakkar said.
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Here’s how brokerages view the quarterly results of the company:Kotak Institutional EquitiesNaukri posted in-line revenue growth of 8% YoY in 4QFY24 and Naukri billings growth of 7% YoY was seen as positive with the company witnessing higher job postings from IT companies. 99acres seems to be turning a corner and posted a cash profit in 4Q.“We model lower losses in 99acres resulting in EPS increase and align value of investments in Zomato and PB Fintech to latest Fair Values,” added the KIE report.
Kotak has an ‘add’ rating on the stock with a revised target price of Rs 6,550.
Nomura
Nomura has lowered its FY25F EPS by 4% driven by higher advertising spending and investments in its core recruitment vertical, while the FY26F EPS remains unchanged. The brokerage firm has raised its target price due to higher valuations of listed investments like Zomato and Policybazaar.
IT billing shows first signs of turnaround, said Nomura.
The brokerage has a ‘buy’ call on the stock with a target price of Rs 6,750.
Nuvama
“Info Edge (IEL) reported in-line Q4FY24 results. Revenue at INR6.1bn, +7.9% YoY, came in line with our estimate of INR6.0bn. EBITDA at INR2.5bn (+12.1% YoY), was slightly above our estimate of INR2.4bn (+8.0% YoY). EBITDA margin came in at 40.6%, +20bps QoQ. Adjusted PAT at INR2.2bn, too, came in line with our estimate,” said a report by Nuvama.
Nuvama has a ‘buy’ rating on the stock with a target price of Rs 7,050.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)