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Info Edge Earnings Call: GST and lower hiring trends impacts Naukri revenue

Info Edge, which owns Naukri.com, Jeevansathi, 99Acres, Shiksha.com, among others, has reported a net profit of Rs 64.23 crore for the quarter ended March 2017 (Q1 FY18). Points to note from Info Edge’s earnings conference call for Q1-FY17. Our coverage of the results here. Naukri.com impacted by GST Info Edge’s CEO and MD Hitesh Oberoi said during the earnings call that the Naukri’s growth in Q1 was impacted due to lower hiring trends in the IT sector and GST. He said that the company needs to be watchful of the top line growth in Naukri for the next couple of quarters if the IT slowdown continues and domestic GDP growth does not pick up. “The full impact of GST on businesses will also play out over the next few quarters,” Oberoi added. Info Edge had indicated in its previous calls that due to the change in sales incentive policy last year, it expects higher billing growth in Q1 (Naukri), and was, therefore, expecting higher than 12% growth that it has reported, “but that did not turn out to be the case”. “There were some clients who seem to have delayed purchases as they were unsure of the impact of GST on their businesses," the management added. In Q1FY18, Naukri an average of 17,700 fresh CVs every day as compared to 14,600 last year Naukri’s database grew to around 53 million CVs In Q1, Naukri had a total of 47,200 unique customers as compared to 43,800 unique customers in Q1 of…

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