Info Edge Ltd, which owns Naukri.com, 99Acres, Jeevansathi.com, Shiksha.com, among others, on a standalone basis, reported a Net Profit after tax (on a standalone basis) of Rs 29.4 crore for the quarter ended
May June 30, 2013, down 7.49% from Rs 31.78 crore profit in the corresponding quarter last year (Q1-FY13) but significantly up from Rs 6.3 crore profit in the previous quarter (Q4-FY13). However note that Info Edge India had wrote off 29.3 crore of its investment in Ninety Nine Labels Private Limited last quarter.
The net sales were at Rs 120.76 crore, up 13.94% from Rs 105.98 crore in the same quarter last year and up 4.05% from Rs 116.06 crore in the previous quarter. This is despite the fact that Q1 is typically a weak quarter for the company while Q4 is Info Edge’s best quarter, since recruitment firms tend to buy recruitment packages in advance during the quarter.
During the quarter, revenues from recruitment solutions grew at 8% while the real estate vertical grew by 47.5%.
Earnings Per Share for Info Edge stood at Rs 2.69, up from Rs 0.58 in Q4-FY12, but down from Rs 2.91 in Q1-FY13. During the quarter, Info Edge invested Rs 2.5 crore in the online insurance policy company Policybazaar.com. It also wrote off its entire Rs 2.6 crore investment in Nogle Technologies which operates the online content sharing portal Floost.com.
Info Edge currently leads the online 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 and recently reported its fifth straight loss making year.
Download – Financials
Updates: Error In headline has been corrected. Added Policybazaar investment & Nogle Technologies write off. Added information from the press release.
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