Info Edge surprised the Street with better-than-expected performance in June 2020 quarter (Q1), but the sharp drop in billing is worrying investors. After being up over 4 per cent in Tuesday’s trading session, the Info Edge stock ended the day with just 0.7 per cent gain at Rs 3,313.75.
The online classified company, which owns major businesses such as naukri.com, 99acres.com, among others, announced its Q1 numbers on Monday post market hours. In Q1, revenue declined by 10.4 per cent year-on-year to Rs 280.1 crore but was higher than consensus estimate of Rs 261.4 crore. ...
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