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Info Edge net profit up 65% to Rs 47.4 crore in Q1FY17

Internet company Info Edge, which owns Naukri.com, Jeevansathi, 99Acres, Shiksha.com, among others, has reported a net profit after tax (on a standalone basis) of Rs 47.4 crore for the quarter ended June 30, 2016 (Q1 FY17), up 65% from Rs 28.63 crore profit in the same quarter last year. On a sequential basis, net profit was down 17.1% from Rs 57.18 crore. Total income, including other income, increased 16% YoY to Rs 223.6 crore for the quarter. The net sales for the company grew to Rs 197.6 crore for the quarter, up 13.09% from Rs 174.73 crore in the same quarter last year and a down 11.98% from Rs 224.5 crore in the preceding quarter. Employee costs increased 21.65% YoY to Rs 96.3 crore and increased 8.2% on a sequential basis from Rs 89 crore. Advertising and promotion costs decreased by 44.03% YoY to Rs 25.8 crore and increased 18.9% QoQ. Ad expenses accounted for 16.56% of the total expenditure this quarter. In Q1 FY16 ad related expenses shot up and ad related costs represented 30% of the total expenditure. For context, advertising expenditure has typically been around 20% of total expenditure for the company. Info Edge has used Rs 108.8 crore of its Rs 750 crore QIP proceeds as working capital for 99Acres. The company had raised Rs 750 crore in the Q2 FY16, by selling 10.13 million shares of face value Rs 10 each, for an issue price of Rs 740 per share. Other Segment results – Recruitment Solution (including Naukri) reported Rs 143.79…

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