Info Edge: On The Job

Gains in Zomato and a booming Naukri business boosted growth for the pure play Internet firm.

- ASMITA DEY

WE HAVE ALWAYS BELIEVED you should focus on the operation, create value for customers, create value for users, give them reasons to engage with you more and if you do it better than your competitors, you will be successful," says Hitesh Oberoi, co-promoter, MD & CEO at Info Edge (India).

Long before the start-up culture came into vogue, the Sanjeev Bikhchandani-founded firm took the lead in experimenting with the world of digital, helming and nurturing a spate of Internet businesses over the years. In fact, in a space where most firms are struggling to monetise, thanks to the high cash-burning nature of consumer Internet businesses, Info Edge is one of the few sectoral companies making money. The company's total income shot up 468% year-on-year to ₹15,399 crore in FY22, while net income rose 48% to ₹1,589 crore, and profit after tax grew 801% to ₹12,760 crore, making it one of the biggest gainers on Fortune 500 India 2022 list (rising 288 ranks in the year). The surge in profits was driven by exceptional income booked majorly from mark-to-market gain on the date of listing of Zomato, an investee company. "We have been growing faster than most start-ups. We have gained share in almost all our verticals. We are sitting on ₹3,500 crore. The Naukri business is generating around ₹1,000 crore a year," says Oberoi.