Naukri-owner Info Edge slips into Rs 70.45 crore net loss for the year ending March 2023
The loss is driven by the impairment of its Rs 532 crore investment n Rahul Yadav's 4B Networks
The company reported a 48% in operating revenues to Rs 2,345 crore for the financial year
https://inc42.com/buzz/info-edge-slips-into-the-red-in-q4-fy23-posts-net-loss-of-inr-503-2-cr/amp/
Very good
Context - Morning Context article on Teachmint https://themorningcontext.com/internet/teachmint-is-the-latest-edtech-on-the-verge-of-a-crisis
Some excerpts from the article: Their core product is not relevant to schools in the post-pandemic world,” says ...
Info Edge Writes Off Entire Investment In Sequoia-Backed Bijnis
ShareChat’s 62% increase in revenue for FY23, at Rs 540 crore. However, its losses widened 38% to Rs 4,064 crore
First the audit report got delayed. Now they’ve reported a loss of over 4.5k cr. And I believe they’re like a mothership of edtech, if they gone down then the entire category goes down from an investment perspective
So will the company also be renamed to Mohan's?