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Naukri Profit Down 16.62% In FY13; Net Sales At Rs 434.9 Crore

Info Edge Ltd, which owns Naukri.com, 99Acres, Jeevansathi.com, Shiksha.com, among others, on a standalone basis, reported a Net Profit after tax (on a standalone basis) of 102.25 crore, down 16.62% for the year ended 31st March 2013, from Rs 122.62 crore the previous fiscal year. The decline in profitability is despite there being a 15.78% increase in net sales year on year: sales grew to Rs 434.90 crore from Rs 375.64 crore in FY12. Note that "profit after tax before exceptional item" was at Rs 131.5 crore up by 7% over the previous financial year, and Operating PAT was at Rs 93.5 crore up by 3.5% over the previous financial year. The exceptional item? Info Edge India wrote off 29.3 crore of its investment in Ninety Nine Labels Private Limited, as well as a provision for diminution in the carrying value of investment in Mauritian subsidiary. Quarterly Results Typically, Q4 is Info Edge's best quarter, since recruitment firms tend to buy recruitment packages in advance in this quarter. Net Sales for Info Edge was up 9.61 percent over the same quarter last year, at Rs 116.06 crore, up from Rs 105.88 crore. Net Profit was lower in the quarter by almost 50 percent, due to the exceptional item mentioned earlier, but also due to a significant increase in employee costs, advertising and promotion costs and also a decline in 'other income + other operating income'. The results announcement quotes Info Edge CFO Ambarish Raghuvanshi as saying that "Results can be described as trying to make the best of a…

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Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

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