In line During the conference call held last evening discussing Info Edge's results (details) for the quarter ending September 30th 2009, COO Hitesh Oberoi appeared optimistic: "Sales were up by 4%, the slide seems to be getting contained, and we're seeing demand moving up across sectors and geographies. Most companies are now doing replacement hiring, if not hiring for growth. The other good thing is that competition in all our segments continues to be impacted more than us. This is an opportunity for us to invest and build and gain marketshare in the long run." However, at 83% of topline (compared to 86% in Q2 last year), Recruitment remained Info Edge's key vertical, even as Jeevansathi (Matrimonial) reported an EBITDA profit. For other verticals, Net Sales were flat year-on-year, at Rs. 9.2 crores. According to Oberoi, the company was able to reduce EBITDA losses in newer businesses by 61% to about Rs. 3.3 crores during the quarter, compared to 8.6 crores in the same quarter last year, and Rs. 4.4 crores in Q1. Brijj, Shiksha and All Check Deals earned a topline of Rs. 1 crore and lost around Rs. 2.6 crores at the EBITDA level in Q2. "We've controlled costs, and can't cut costs beyond this. Now a lot depends on revenue growth," Oberoi added. Both 99Acres (Real Estate) and Jeevansathi (Matrimonials) witnessed key changes, that impacted performance: 99 Acres: Junks Unlimited Listings Plan 99Acres had an unexpectedly poor quarter, reporting a decline in both number of listings (from 271000 in Q1…
- RBI allows authorised fintech entities to issue prepaid wallets, cards for public transport systems February 26, 2024
- Video: What We Know About The Use of AI for ‘Doctor On Wheels’ Project in Jammu and Kashmir February 26, 2024
- Zomato Q3FY24 Results: Company expects adjusted revenue to grow at 50% over next quarters February 26, 2024
- RBI allows Paytm to migrate @paytm UPI users to other banks once NPCI gives approval February 26, 2024
- India’s Ministry of Home Affairs Extends Order Suspending Internet Services in Punjab February 26, 2024
Company reports an INR 390 crore year-on-year improvement in EBITDA and a 53 percent year-on-year (YoY) growth of the Consolidated Adjusted Revenue for the...
The Minister's response came after an X user posted answers generated by Gemini regarding Prime Minister Narendra Modi.
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...