Updated March 4th, 2024 at 11:30 IST

Info Edge shares rise over 3% after Google Play Store reinstates Naukri, Shiksha apps

Google's action extended beyond Info Edge, impacting other companies such as Matrimony.com and Balaji Telefilms, which saw their apps removed from Play Store.

Reported by: Business Desk
Info Edge Naukri reinstatement | Image:Glassdoor
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Info Edge Naukri reinstatement: The shares of Info Edge (India) Ltd rose 3.43 per cent to an intraday high of Rs 5,361.75 apiece on the National Stock Exchange (NSE) on Monday, March 4, 2024. This comes after Google reinstated its mobile applications, including Naukri Jobseeker, Naukrigulf Job Search App, and 99acres Buy/Sell/Rent Property, on the Google Play Store. Last week, Google delisted these apps from its marketplace, citing "non-compliance" with its billing policy.

In an exchange filing earlier in the day, Info Edge confirmed the reinstatement of its applications on the Play Store, allowing new users to download and utilise them.

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"In furtherance of our intimation/disclosure dated March 02, 2024, we would like to inform you that Company’s rest of the mobile applications namely - Naukri Recruiter and Shiksha have also been reinstated on the Google Play Store. The Company will continue to work with Google to prevent such delisting/removal of the Company’s mobile applications, from the Google Play Store, in the future," the company statement said.

Info Edge clarified that no retrospective payouts are pending to Google, further easing investor concerns. Earlier, the delisting of Info Edge's mobile applications, along with several others, caught the company by surprise, prompting it to review its options and collaborate with Google to resolve the matter promptly. The sudden delisting had raised questions about compliance and regulatory issues, highlighting the complexities of operating within the app ecosystem.

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On a broader scale, Google's action extended beyond Info Edge, impacting other Indian companies such as Matrimony.com and Balaji Telefilms, which saw their apps removed from the Play Store. While some apps have been reinstated, concerns remain regarding compliance with Google's billing policies and the impact on revenue streams.

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The reinstatement of Info Edge's apps signifies a positive development, yet challenges persist as companies navigate Google's billing requirements. After Google's action, IT Minister Ashwini Vaishnaw came down heavily on the tech giant saying the Indian startups will get the necessary government support, and asserted that their fate cannot be subject to decisions of large tech companies.

With Google's Android ecosystem dominating the Indian smartphone market, developers and companies are closely scrutinising compliance requirements and exploring alternative billing options to maintain revenue streams while adhering to regulatory standards.

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Published March 4th, 2024 at 11:30 IST