Info Edge's recruitment segment had billings of Rs 146 crore during the September quarter (Q2FY18). This was an increase of 14% year-on-year (YoY). However, the recruitment revenue was at Rs.164.8 crores, growth of 6% (YoY). "While the billing growth was strong during the quarter, the revenue growth lacked primarily for two reasons – One, because of larger duration subscription sales and two because of a skew in billing towards the quarter end," CEO Hitesh Oberoi explained in a call with analysts. As a consequence, deferred sales revenue has increased to Rs 335 crores during the quarter, an increase of 22% YoY. "So basically what happened was we sold slightly longer-term subscriptions and the billing sort of was mostly skewed towards the quarter end. So now there could be a recovery in the offering because clients buy long-term subscriptions and it basically shows they have confidence in the fact that they (clients) will continue to hire," Oberoi added. He added that the recruitment segment was impacted by the slowdown in hiring by the IT sector and the transition to GST and this extended to July and August as well but billings picked up in September. "However, we need to see if this growth is sustained going forward," he said. "Sectors like banking, financial services, insurance, travel, hospitality, tourism, healthcare, teaching, are doing well for a while now, but sectors like Real Estate, Engineering, Construction, Infrastructure have been in the dump for a while. IT had negative growth while back, it is still…
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