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Info Edge reports 13% growth in net profit with Rs 53.3cr

Info Edge, which runs multiple Internet companies such as Naukri, Jeevansathi, and 99Acres, has reported a net profit of Rs 53.3 crore for the quarter ended December 2017(Q3 FY18). Net profit was up 13.1% from Rs 47.1 crore in the same quarter last year.

Total income for Info Edge was up to Rs 249 crore, up 18% year-on-year (YoY). Other income was at Rs 22 crores. Net sales (revenue) was up 22.1 % year-on-year at Rs 227.2 crore. Billing for the company increased to Rs 228.3 crore, up 18.8% year-on-year.

Segment results

Recruitment Solutions (including and mostly Naukri.com) reported revenues of Rs 169 crore, up 20.7% YoY from Rs 140 crore. On a sequential basis, it grew 2.4% from Rs 165 crore. The segment posted a profit before tax of Rs 94.6 crore, marginally lower than Rs 95.3 crore reported last quarter, and higher than Rs 71.1 crore reported for the same quarter last year.
Real estate portal (99acres) reported revenues of Rs 34.1 crores, up from Rs 32.1 crore reported last quarter, and Rs 26 crore reported last year. Loss for the segment for the period stood at Rs 8.9 crore, more than Rs 99 lakh reported last quarter, and lower than Rs 16.1 crore reported for the same period last year.
Other segments, including Shiksha and Jeevansathi, reported Rs 24 crore in revenues, compared to Rs 19.6 crore last year. The segment posted a loss of Rs 6.1 crore, lower than Rs 7.5 crore last year.

Expenditure

– Costs related to employees continued to be the largest expenditure for Info Edge. It stood at Rs 95.4 crore compared to Rs 93.7 crore in the last quarter. Employee costs amounted to 62% of the total expenditure.

– Advertising and promotion costs stood at Rs 25.5 crores, higher than the Rs 17.5 crore reported last quarter. Ad expenses accounted for 16% of the total expenditure this quarter. For context, advertising expenditure used to be typically around 20% of total expenditure for the company, but has been lower for the last few quarters.

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