Info Edge Ltd, which owns Naukri.com, Jeevansathi, 99Acres, Shiksha.com, among others has reported a net profit after tax (on a standalone basis) of Rs 128.5 crore for the year ended March 31, 2014, up 25.7% from Rs 102.25 crore in the previous fiscal year.
The net sales also saw a significant growth to Rs 505.1 crore for the year, up 16.1% from Rs 434.9 crore sales in the previous fiscal. Operating EBITDA was at Rs 169 crore, up 16.2% year-on-year (YoY).
It’s worth noting that FY14 earnings include an exceptional item of Rs 2.6 crore due to the write off of Nogle Technologies’s investment last June while FY13 earnings includes an exceptional item of Rs 29.3 crore due to Ninety Nine labels investment write off and a provision for diminution in the carrying value of investment in Mauritian subsidiary.
On a quarterly basis (Q4-FY14), the net sales was up 18.9% YoY to Rs 138 crore, from Rs 116.06 crore in Q4-FY13. The net profit was also up 66.3% to Rs 33.6 crore from Rs 20.2 crore in the previous year. Note that Q4 is typically Info Edge’s best quarter, since recruitment firms tend to buy recruitment packages in advance during this quarter.
Info Edge’s outgoing CFO Ambarish Raghuvanshi mentioned that its recruitment business continued to grow at an improved pace and its real estate vertical has been growing at healthy rate.
During the year, revenues from recruitment solutions grew by 9.8% while the real estate revenues grew by 47.2% over previous year.
During the quarter, Info Edge invested a further Rs 19.5 crore in Canvera Digital Technologies which owns and operates the online photography service Canvera.com.
This includes a Rs 13.5 investment in March this year, a Rs 1.5 crore investment to give an exit to some angel investors of Canvera in February 2014 and a Rs 4.5 crore investment in January this year. With this, Info Edge has invested a total Rs 57 crore in Canvera and owns 32% stake in the company.
Updates: Added information from the press release.
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