Info Edge’s Q1 09 results are not very encouraging. They have grown EPS from 4.27 to 4.75, a y-o-y growth of 11.25%. Further a very large amount of money – 88% – comes from recruitment alone.
Their other sites include the matrimonial portal JeevanSaathi.com, real estate portal 99acres.com, other sites like brijj.com and shiskha. All these are losing money, though top lines seem to be growing. In fact they are losing MORE money than they did last year, inspite of growing top lines.
They’ve bought some FMPs which are going to mature in April 09, so their near 265 cr. of mutual funds is most likely going to yield profits then (not recorded now). So this year, the EPS may not have a huge other income component.
They made an EPS of 20 odd last year. If we annualise this quarter’s growth (11.25%) and add a bit here and there, we come to an EPS of Rs. 23. At the current price of Rs. 860 that’s a forward P/E of 35.
