Info Edge (Naukri), one of the few public-listed Internet companies, appears to be trying to lower investor expectations: in an interview with Reuters, CFO Ambarish Raghuvanshi has said that the second quarter (Q209) revenue growth may be 20-25 percent, with a half-yearly growth of 28-30 percent. This is compared to 55-60 percent year on year growth in Q2 last fiscal.

The impact is obviously being felt most on its job site – Naukri.com, which, alongwith their Quadrangle business, accounted for 88 percent of revenues last quarter. Raghuvanshi has said that the biggest challenge will be to be able to grow Naukri.com over the next 18-24 months.

During Q2 last year (Q207), Info Edge had recorded revenues of Rs. 58.5 crores, up from Rs. 32.5 crores for Q206. A 28-30 percent year-on-year increase would mean revenues of between Rs. 74 – 77 crores for Q209. Last quarter, the company reported revenues of Rs. 67.14 crores.

Info Edge had been rather bullish on Q309 (October to December 2008), so it’ll be interesting to see if the guidance is changed when the Q2 results are formally announced. Meanwhile, the company’s stock price has been hammered down – currently trading at Rs. 460, down from a 52 week high of Rs. 1688.

Some stats on Info Edge from our coverage of Q1:

Recruitment (Naukri + Quadrangle)
– 88 percent of operating revenue is recruitment
– grew at around 31 percent in Q1, over same quarter previous year
– IT Revenue growth in this quarter is 16 percent
– Dependence on IT down to 27 percent of Naukri corporate sales
Non Recruitment
– 12 percent of operating income
– EBITDA losses – Rs. 7.4 crores in Q1, opposed to 4.2 crores in Q1 last year
– Grew 71 percent over same quarter previous year

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Disclosure: I own an inconsequential number of shares of Info Edge