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Nuvama Securities has reiterated its 'Buy' recommendation for Info Edge, the company behind the job portal Naukri, after reviewing its fourth-quarter financial year 2026 results. The brokerage set a target price of ₹961 for the stock.
Q4 FY26 Performance
Info Edge reported an 11.48% increase in consolidated net profit for the March quarter, reaching ₹756 crore. This was mainly driven by its recruitment solutions segment and represents a rise from the ₹678 crore profit recorded in the same period last year.
The profit before tax for recruitment solutions saw a substantial jump of approximately 21%, from ₹287.4 crore to ₹346.8 crore year-on-year. Employee expenses, a major cost for Info Edge, remained flat compared to both the reported quarter and the previous year.
Consolidated revenue from operations grew by about 16% to ₹869 crore in the quarter, up from ₹749.6 crore in March FY25. For the full fiscal year ended March 31, 2026, Info Edge posted a net profit growth of 34.5%, totaling ₹1,763 crore, an increase from ₹1,310 crore in FY25. Annual revenue from operations climbed 15.27% to ₹3,285 crore in FY26 from ₹2,849.5 crore a year prior.
Brokerage Outlook
Nuvama anticipates that moderate billings growth will eventually lead to slower revenue expansion. However, growth in the company's non-recruitment ventures is expected to provide some offset. The brokerage projects that margins will likely stay consistent at current levels. Nuvama is slightly adjusting its FY27E and FY28E Earnings Per Share (EPS) estimates downwards by 0.9% and 0.7% respectively, to account for this projected lower growth.