Info Edge net profit remains flat YoY at Rs 78.5 Cr, Naukri revenues up by 15%

Info Edge, which runs multiple internet companies such as Naukri, Jeevansathi, and 99Acres, and is an investor in Zomato, has reported a net profit of Rs 78.5 crore for the quarter ended September 2018 (Q2FY19). Net profit has remained more or less flat over the same quarter last year when it was Rs 79 crore.

Total income for Info Edge was Rs 292.5 crore, up 16% year-on-year (YoY). Other income was at Rs 27.4 crore. Net sales (revenue) was up 17% year-on-year at Rs 265 crore.

Segment results

Recruitment Solutions (including and mostly Naukri.com) reported revenues of Rs 190 crore, up 15.7% YoY from Rs 164.7 crore. On a sequential basis, it grew 3.6% from Rs 184 crore. The segment posted a profit before tax of Rs 101 crore, slightly lower than Rs 102 crore reported last quarter, and higher than the Rs 95 crore reported for the same quarter last year.
Real estate portal 99acres reported revenues of Rs 45 crores, up from the Rs 41 crore reported last quarter, and Rs 32.6 crore reported in the same quarter last year. Loss for the period stood at Rs 6 crore, significantly lower from last quarter when it was 12.8 crore, but higher by 555% from the same quarter last year when it was nearly Rs 1 crore.
Other segments, including Shiksha and Jeevansathi, reported Rs 29 crore in revenues, compared to Rs 27.7 crore last year, and Rs 33.5 crore last quarter. The segment posted a loss of Rs 8.3 crore, higher 124% YoY from Rs 3.7 crore. Even over the last quarter, losses have increased by 144% from Rs 3.4 crore.

Expenditure

— Costs related to employees continued to be the largest proportion (60%) of the expenditure for the company. It stood at Rs 111 crore compared to Rs 94 crore in the last quarter.

— Advertising and promotion costs stood at Rs 40.5 crores, significantly higher than the Rs 17.5 crore reported same quarter last year and Rs 37.6 reported last quarter. Ad expenses accounted for 21% of the total expenditure this quarter.