naspers

Prosus also saw revenue for the period climb 22% to US$3.6 billion, with its iFood and OLX platforms contributing significantly.

The company, based in the Netherlands, cites the rise to its expanding ecommerce business and gains in the value of its Tencent stake.

Prosus has already raised US$780 million from asset sales over the past four months.

For the year ending March 31, Naspers recorded core headline earnings per share of 1,830 US cents from continuing operations.

Prosus is shifting its focus from investments to developing large-scale lifestyle platforms.

Bob van Dijk will remain as a consultant for both companies until September 2024.

Naspers’ annual profit declined by 78%, primarily due to decreased earnings from Tencent.

Prosus said it will remain committed to the Indian market and will keep growing its businesses within the region.

Prosus has sold about 4% of its stake in the Beijing-based online marketplace.

The closure has affected over 100 employees.