Info Edge Pumps Rs 300 Cr In Arm Startup Investments

IT firm InfoEdge, which owns portals such as Naugri and 99 Acre, said in a regulatory filing on Saturday that it has infused Rs 300 crore into its subsidiary Startup Investments (Holding) Ltd (SIHL). InfoEdge owns 100% of Initial Investments. “The current investment will help SIHL explore investment opportunities, including participation in AIF(s) managed by Smartweb Internet Services,” Info Edge said in a filing. “The company may have face value (CCT), which may be mandatory for 3 -kros -0.0001 %.

Edge, maintaining NA AU, released 85.5 percent of the integrated net profit on Friday from $ 292.43 crowns in the first quarter, ending June 30, 2022. InfoEdge’s consolidated net income jumped 85.5 percent on Friday. Profit for the first quarter ended June 30, 2022 was Rs 292.43 crore. A year ago, the company registered a net profit of 7 157.64 crowns.

The integrated revenue of integrated operations increased from 66.5 % to Rs 547.26 to Rs 328.6 in June 2021. Info Edge’s standalone billings, including the acquired business Zwayam and DoSelect, grew 66.4% YoY to Rs 537 crore.

The recruitment business continues to grow exponentially,” said Hitesh Oberoi, Managing Director and CEO of InfoEdge. “Billings’ fifth consecutive quarter of growth and improved profitability is evidence of renewed momentum in the business,” said Sindan Thakkar, Managing Director and Chief Financial Officer, InfoEdge (India).

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An MBA in HR and Marketing from AIMS Institute (Bangalore University), He heads digital business he has a rich experience that he has garnered from his previous organisations Including leading Banks, NBFCs & Genpact India. He is a serial entrepreneur and the founder of Heavy Group of Companies.

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