Internet company Info Edge, which owns Naukri.com, Jeevansathi, 99Acres, Shiksha.com, among others, has reported a net profit after tax (on a standalone basis) of Rs 57.18 crore for the quarter ended March 31, 2016 (Q4 FY16), down 30.41% from Rs 82.18 crore profit in the same quarter last year. On a sequential basis, net profit was up 163% from Rs 21.73 crore.
Total income, including other income, increased 12.25% YoY to Rs 224.5 crore for the quarter. The net sales for the company grew to Rs 202.4 crore for the quarter, up 16.99% from Rs 173 crore in the same quarter last year and a up 16.74% from Rs 174 .1 crore in the previous quarter.
Employee costs increased 29.54% YoY to Rs 89 crore and increased 10.69% on a sequential basis from Rs 80.4 crore.
Advertising and promotion costs decreased marginally by 0.95% YoY to Rs 21.7 crore and decreased 19.9 % QoQ. Ad expenses accounted for 14% of the total expenditure this quarter. In the Q1 FY16 ad related expenses shot up and ad related costs represented 30% of the total expenditure. For context, advertising expenditure has typically been around 20% of total expenditure for the company.
Info Edge has used Rs 73.44 crore of its Rs 750 crore QIP proceeds as working capital for 99Acres. The company had raised Rs 750 crore in the Q2 FY16, by selling 10.13 million shares of face value Rs 10 each, for an issue price of Rs 740 per share.
Other Segment results
– Recruitment Solution (including Naukri) reported Rs 148.88 crore in revenues up 15.08 % q-o-q. Recruitment solutions posted a Rs 78.19 crore in profit.
– Real estate portal (99acres) reported revenues of Rs 31.67 crore. Loss for the period stood at Rs 13.37 crore.
– Others, including Shiksha and Jeevansathi, reported Rs 23.64 crore in revenues and Rs 85.3 lakh in loss