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Naukri Profit Up To Rs 30.80 Crore, Sales At Rs 106.4 Crore For Q3-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 30.80 crore for the quarter ended December 31st 2012 (Q3-FY13), up 6.76% from Rs 28.58 crore reported for the corresponding quarter last year, and down 8.08% from Rs 33.32 crore reported last quarter. The net sales for the company stood at Rs 106.41 crore, up 15.67% from Rs 91.99 crore recorded during the same quarter last year (Q3-FY12), and flat as compared with Rs 106.45 crore recorded the previous quarter (Q2-FY13). Operating PAT was at Rs 22.2 crore down by 1.2% over the corresponding quarter in FY 2011-12. During the quarter revenue from recruitment solutions grew at 10.1% while the real estate vertical grew by 54.6%. Earnings Per Share for the Info Edge stood at Rs 2.82, up 6.82% from Rs 2.64 for Q3-FY12, and down 7.54% from Rs 3.05 in Q2-FY13. Deceleration In Recruitment Business Commenting on the results, Ambarish Raghuvanshi, CFO and Director, Info Edge (India) Limited said that the recruitment businesses is decelerating in line with weak economic indicators. In addition, "the company has continued to make discretionary investment in the businesses, including in recruitment, leading to erosion in margins." Info Edge leads the online recruitment business, and during the quarter, Consim Info, a competing classifieds business, sold a majority stake in recruitment site ClickJobs.com to a realtor based in Delhi. Others have struggled to compete as well: Web18 sold back 50% stake in JobStreet in 2010. Nevertheless, Info Edge…

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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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