wordpress blog stats
Connect with us

Hi, what are you looking for?

Sep09 Call: Info Edge: 99Acres Plan Changes, Jeevansathi Price Hike; Recruitment Outlook

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…

Please subscribe/login to read the full story.
Written By

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

Free Reads

News

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...

News

The service from the tie-up will initally be launched at Bengaluru, Bhubaneswar, Vijayawada and Visakhapatnam railway stations

News

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.

Views

News

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...

News

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...

News

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...

News

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?...

News

RBI Deputy Governor Rabi Shankar called for self-regulation in the fintech sector, but here's why we disagree with his stance.

You May Also Like

News

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...

Advert

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...

News

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...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ