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Naukri Reports Rs 33.3 Cr Profit; Rs 106.5 Cr Net Sales For Q2-FY13

Info Edge Ltd, which owns Naukri.com, 99Acres, Jeevansathi.com, Shiksha.com, among others, on a standalone basis, reported a Net Profit after tax of Rs 33.3 crore for the quarter ended September 30, 2012 (Q2-FY13), up 18% from Rs 28.2 crore reported for the corresponding quarter last year. The net sales stood at Rs 106.5 crore, up 16.9% from Rs 91.1 crore recorded during the same quarter last year.

The company said that the revenue from recruitment services grew by 11.6% during the quarter, while the revenue from its real estate vertical has grown by 52% during the quarter.

Earnings Per Share: Earnings Per Share for the Info Edge stood at Rs 3.05, up from Rs 2.91 from Q1-FY13 and Rs 2.59 for Q2-FY12. Note that the company had issued 54,590,512 shares as bonus shares in 1:1 ratio during the previous quarter, following which the EPS has been adjusted for all periods.

The company has listed Rs 0.353 crore, as provision for diminution in the carrying value of investment of  in Info Edge (India) Mauritius, under exceptional item in the quarter ended September 30, 2012.

Talking about the company’s performance during the quarter, Ambarish Raghuvanshi, CFO and Director, Info Edge (India) Limited said that Naukri continues to see sluggish growth in a weak macro environment, however the company’s other smaller and newer businesses, especially 99acres is growing well. He also mentioned that the company continues to invest across all businesses and expense categories.

Investments During the Quarter

During the quarter, Info Edge invested in existing and new ventures including a Rs 12.86 crore investment in the online restaurant and events guide Zomato, through optionally convertible cumulative redeemable preference shares, a Rs 5 crore investment in the online boutique shopping site 99labels through fully convertible cumulative redeemable unsecured debentures, and Rs 35 crore investment in the online photography service Canvera.

DownloadPress Release | Financials

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