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Info Edge reports net profit of 63cr; On year growth muted

Info Edge, which runs multiple Internet companies such as Naukri, Jeevansathi, and 99Acres, has reported a net profit of Rs 62.9 crore for the quarter ended June 2018(Q1 FY19). Net profit was down 1.9% from Rs 64.2 crore in the same quarter last year.

Total income for Info Edge was up to Rs 283.2 crore, up 13.8% year-on-year (YoY). Other income was at Rs 23.6 crores. Net sales (revenue) was up 16.7% year-on-year at Rs 259.5 crore. Billing for the company increased to Rs 283.4 crore, up 17.3% year-on-year.

Segment results

Recruitment Solutions (including and mostly Naukri.com) reported revenues of Rs 184.1 crore, up 15.2% YoY from Rs 159.8 crore. On a sequential basis, it grew 5.1% from Rs 175.2 crore. The segment posted a profit before tax of Rs 102.1 crore, higher than Rs 90.8 crore reported last quarter, and higher than Rs 85.3 crore reported for the same quarter last year.
Real estate portal (99acres) reported revenues of Rs 41.9 crores, up from Rs 37.3 crore reported last quarter, and Rs 31.4 crore reported last year. Loss for the segment for the period stood at Rs 12.8 crore, more than Rs 14.9 crores reported last quarter, and lower than Rs 11.2 crore reported for the same period last year.
Other segments, including Shiksha and Jeevansathi, reported Rs 33.5 crore in revenues, compared to Rs 28.2 crore last year. The segment posted a loss of Rs 3.4 crore, lower than Rs 2.95 crore last year.

Expenditure

– Costs related to employees continued to be the largest expenditure for Info Edge. It stood at Rs 110.59 crore compared to Rs 104.77 crore in the last quarter. Employee costs amounted to 61.24% of the total expenditure.

– Advertising and promotion costs stood at Rs 37.64 crores, lower than the Rs 47.83 crore reported last quarter. Ad expenses accounted for 20.84% of the total expenditure this quarter.

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