wordpress blog stats
Connect with us

Hi, what are you looking for?

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 remains largely a recruitment business, with Naukri.com accounting for a majority of its topline. Its matrimonial portal, Jeevansathi.com, remains number three in the market, behind Consim Info’s Bharatmatrimony.com, and People Group’s Shaadi.com.

Investments

During the quarter, Info Edge invested Rs 5 crore in retail venture Happily Unmarried, picking up around 25% stake in the company. It also acquired TooStep, a social networking based recruitment solutions business, for Rs 4.125 crore, the company has now disclosed.

In the previous quarter, it had made 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.

DownloadFinancials

Corrigendum: The headline of this post had incorrectly mentioned Info Edge’s profit as 28.85 crore. It has now been corrected. The error is regretted. Our apologies.

Updates: Error in headline has been corrected. Table and percentage values have been added. Added information from the press release.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

News

Jobs listing website, IIMjobs.com, suffered a database breach on Monday exposing personal data of nearly 1.4 million users that were registered on the website....

News

Info Edge (India) Ltd. saw recovery across segments with traffic returning to Naukri and 99acres, its recruitment and real estate platforms, in the quarter...

News

Info Edge (India) Ltd.’s billing stood at ₹249.5 crore, down by 17% YoY. Revenue fell 19.1% YoY to ₹256.1 crore. “We are pleased to...

News

InfoEdge’s core business Naukri saw bounceback in job seeker traffic to pre-Covid levels, and recruitment activity improved to 35% yearly decline in June as...

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

© 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to Daily Newsletter

    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ