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Info Edge Q4 Sales Up 13.1 Pc YoY; Says Growth Is Back, But Profit Down

After claiming that "Jobs Are Back" in an advertisement that Info Edge (India) ran for its job portal Naukri.com, it is now claiming, at the end of during the Jan-March 2010 quarter, that "Growth is back". Net sales for the quarter for the company were up 13.1 percent year-on-year, and 10.84 percent sequentially, following two quarters of negative growth and one flat quarter. Readers should keep in mind that, traditionally, Q4 is traditionally the strongest quarter for Info Edge in terms of sales, as recruiters spend their budgets on annual contracts. Info Edge also accounts its sales in a staggered manner through the year, as we had explained last year. In what is clearly a positive signal for the coming quarters, the company says its deferred sales revenue increased, to Rs 531 mn as on March 31st, 2010 as against Rs 494 mn in March 31st, 2009. Net Profit for the quarter, however, was down both year-on-year (4.24 percent) and sequentially (15.36 percent), as expenditure on both employees, and advertising and promotion increased substantially. The "Jobs are back" advertisement (on YouTube) must have cost a bomb to run. Correction: PAT at Rs 132.23 mn decreased by 4.23% over the corresponding quarter in FY2008-09, due to "an exceptional item amounting to Rs 37.74 million on account of estimated dimunition in value of investment in Study Places Inc." Read about the Study Places sale here, and our Deal updates here. Operating EBITDA increased by 19.5% at Rs 215.81 million over the corresponding…

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Written By

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

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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