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Info Edge earnings call Q1FY19: Naukri billing grew 15.4% at Rs 210cr

Info Edge’s recruitment segment had billings of Rs 210 crore during the June quarter (Q1FY19). This was an increase of 15.4% year-on-year (YoY) as compared to Rs 182 crore in the same quarter last year. However, the recruitment revenue was at Rs 184 crore, up 13.7% (YoY). In its earnings call, Hitesh Oberoi, Managing Director & CEO said that there was some pick up in IT business hiring, especially in cities like Hyderabad, Bangalore and Chennai, which had a positive impact for Naukri. He said that non-IT sectors like auto, insurance, manufacturing, construction, banking, finance etc. also helped in pushing the company’s growth rate, as indicated by the Naukri job index. On the other hand, revenues from consultants, however, did not grow as expected, Oberoi added. He stated that the company’s traffic in the job portal space continues to be in the mid-70s (%) excluding indeed and around 60% including indeed. Answering an analyst’s question, Oberoi said that the company works with over 70000 customers on Naukri alone and that 20-25% of all hiring happens through the firm’s job portal. When asked about the ‘potential opportunity, in terms of market size’, Oberoi, while admitting that he doesn’t have any solid data, guessed that the market for recruitment alone could be over $1 billion or more. To a different question, Oberoi said that ‘close to 27% of their revenue comes from the IT sector and another 25% recruitment firms, while the rest comes from 40-50 different industries.’ Naukri’s operational numbers In Q1 Naukri…

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