Info Edge co-founder Sanjeev Bikhchandani admitted investing in Rahul Yadav's 4B Networks was a mistake while discussing the company's quarterly financial update. During the December 2022 quarter, the company wrote off its equity investment of Rs 2.88 billion in 4B Networks citing excessive cash burn, prevailing liquidity issues, and uncertainty towards funding options. The company's consolidated net profit in June quarter FY2024 almost halved to Rs 1.47 billion.
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