Info Edge share price gains after Q1 profit surges 149% YoY

The company reported consolidated net profit at Rs 93.66 crore which surged 149 percent as compared to Q1FY20 when it reported loss of Rs 190.91 crore.

Info Edge share price gained over 2 percent in the morning trade on September 8, a day after the company declared its Q1 results.

The company reported consolidated net profit at Rs 93.66 crore, which surged 149 percent, as compared to Q1FY20, when it reported loss of Rs 190.91 crore. The net profit margin in Q1FY21 came in at 32.86 percent which jumped by 92.58 percent YoY.

Consolidated net revenue in Q1FY21 stood at Rs 285 crore, which fell by 10.85 percent YoY from Rs 319.7 crore in Q1FY20. Its EBITDA stood at Rs 104 crore in Q1FY21 which jumped 16.62 percent YoY.

The stock price gained 62 percent in the last 1 year and was trading at Rs 3,370.35, up Rs 78.45, or 2.38 percent. It has touched an intraday high of Rs 3,400.00 and an intraday low of Rs 3,363.05.

According to Moneycontrol SWOT Analysis powered by Trendlyne, FII / FPI or institutions have been increasing their shareholding with the company able to generate net cash - improving net cash flow for last 2 years.

Moneycontrol technical rating is very bullish with moving averages and technical indicators being bullish.

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