During the Info Edge earnings conference call, CEO & MD Sanjeev Bikhchandani said that the company expects a challenging second quarter for the company, but with an improvement in hiring activity, might see an improvement in the third quarter of the 2009-10 fiscal. Hiring had bottomed out in December, and has been low since, but indications are that hiring has picked up June. If hiring picks up in the next few months, revenue will follow in the quarter that follows. The company was unable to give a guidance for Q2 growth, saying that it could be negative. "We don't expect great savings in costs in Q2, and if revenue does not improve, margins will be under pressure," Bikhchandani said. Note: numbers mentioned below are YoY, unless specified otherwise Recruitment Business: Margin & Pricing Pressures Margins Recruitment accounted for around 84 percent of operating topline. EBITDA margins for the recruitment vertical (Naukri and Quadrangle) were 39.07 percent, versus 43.76 percent in Q1 last year. For Naukri.com, the EBITDA margin moved down to 41.8 percent from 47.13 percent a year ago. The company said these numbers are internal numbers, and have not been audited or reviewed: Naukri Recruitment Solutions topline declined 21.4 percent, Naukri Candidate Services declined 1.6 percent, while Quadrangle declined 36 percent. Note that at an average, Naukri Recruitment solutions accounts for 90 percent. Pricing Pressures The recruitment business is facing pricing pressure, and customers are buying some of the cheaper solutions. COO Hitesh Oberoi said that to begin with, there…
- China state-backed hacking groups reportedly targeted India and other countries; here’s what we don’t know February 23, 2024
- Microsoft Announces Automation of Risk Identification Process for Generative AI Systems February 23, 2024
- IRCTC announces tie-up with Swiggy for food delivery services February 23, 2024
- MoS IT Rajeev Chandrasekhar accuses Google’s chatbot Gemini of violating IT Rules February 23, 2024
- Google releases open-source AI model called Gemma February 23, 2024
The Minister's response came after an X user posted answers generated by Gemini regarding Prime Minister Narendra Modi.
Vaishnaw said that in the next five years, there will be significant disruptions in the way telecom technology operates.
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...
The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...
Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...
Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...
RBI Deputy Governor Rabi Shankar called for self-regulation in the fintech sector, but here's why we disagree with his stance.
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...