The company's revenue during the March quarter of FY20 grew 10.3 percent YoY, the slowest in two years.
Info Edge (India) share price declined over 3 percent in intraday trade on BSE on June 4 and looked on course to extend the losing streak into the fourth consecutive session.
The company's revenue during the March quarter of FY20 grew 10.3 percent year-on-year (YoY), the slowest in two years, due to the COVID-19 pandemic and the lockdown.
The company said Naukri (India) segment's collections were growing in Q4 at around 13 percent until mid-March but it had a decline of collection by Rs 14 crore in Q4FY20 YOY and Rs 26 crore in April 2020 YOY.
"For Q4FY20, pre- COVID- 19 growth was 13 percent, the lockdown had slowed down the growth to 0 percent, leading to a shortfall of collection of Rs 40-44 crore," Info Edge said.
Global financial management firm Morgan Stanley has an 'overweight' call on the stock, with a target price of Rs 2,200.
As per CNBC-TV18, Morgan Stanley said the company's Q4 revenue was in-line with consensus but EBITDA was much lower.
"COVID-19 affected collections, especially in realty and recruitment verticals but the company's cash position remains healthy," Morgan Stanley said.
The control of discretionary spending should help weather the storm, it said.
At 1245 hours, Info Edge was trading 2.59 percent down at Rs 2,500 on BSE.
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