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Info Edge profit up by 39% to Rs 74.3 Cr, 99Acres halves losses to Rs 4.5 Cr in Q3FY19

Internet company Info Edge has reported operational revenues of Rs 281 crore in the quarter ended December 31, 2018, which is an increase of 23.7% YoY from Rs 227 crore in Q3FY18. Revenues have also increased 5.8% over the preceding quarter. The company recorded net profits of Rs 74.3 crore this quarter, 39% higher than the profits of Rs 53.3 crore in the same quarter last year.

Recruitment: Naukri continues to be InfoEdge’s only money-making segment bringing in Rs 109 crore in profits, and pulling 72% of the company’s revenue this quarter. Naukri’s revenues increased 20% YoY to Rs 203.6 crore this quarter, from Rs 169 crore in Q3FY18. Info Edge CFO Chintan Thakkar said that Naukri and 99Acres’ billings increased by 18.7% and 29.6% respectively, and drove company growth in the quarter.

99Acres, Shiksha, and Jeevansathi: Real estate segment 99Acres suffered losses of Rs 4.5 crore, while other businesses such as Shiksha and Jeevansathi suffered losses of Rs 18.5 crore this quarter. In fact, Shiksha and Jeevansathi’s losses tripled from Rs 6 crore Q3FY18. However, its worth nothing that 99acres’ revenue increased by 48% YoY to Rs 50 crore this quarter, and losses halved from Rs 8.9 crore a year ago. Shiksha and Jeevansathi reported revenues of Rs 26.9 crore, largely stagnant from Rs 24 crore in the same quarter last year.

Numbers:

  • Billings in the quarter were Rs 272 crore, an increase of 19.1% YoY
  • EBITDA stood at Rs 112.9 crore, 12% higher YoY
  • Profit before tax stood at Rs 107.9 crore
  • Advertising and promotion cost: Rs 50.2 crore, doubled over Q3FY18 when it was Rs 25.5 crore
  • Employee benefit costs: Rs 115 crore, 20.5% increase YoY

Thakkar said that the company is looking to invest in “areas of deep tech” and data science across all segments.

Download: Financials & Release

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