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Info Edge: Investors must wait for sell-off to end before making new entry

The guidance says there are clear signs of a slowdown in IT hiring, with supply pressure easing and lower attrition

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Devangshu Datta
Although Info Edge delivered good results in the October-December quarter of the 2022-23 financial year (Q3FY23), the management guidance flagged visible weakness in the IT segment. That seems to have spooked investors who downgraded valuations for a very highly-valued company.

The stock dropped by over 9 per cent as the market responded to the guidance and its implications more than the results. The firm deli­vered str­ong revenue growth in Q3FY23, with standalone revenue growth of 33 per cent year-on-year (YoY), led by 40 per cent growth in the recruitment vertical. The earnings before interest, tax, depreciation and amortisation (Ebitda) margin