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99Acres reduces loss by 73.4% to ₹3.4 cr in Q1FY20

Bottom line: Naukri.com is a profitable business, while 99Acres is operating in losses, though it reduced losses by 73.4% compared to last year. Losses in the Others’ segment, which includes JeevanSaathi and Shiksha, increased over last year.

Main numbers:

  • Consolidated total revenue: ₹349.2 crore, up 15% YoY from ₹302.9 crore
  • Standalone revenue: ₹337.3 crore, up by 19.1% YoY
  • Billings: ₹336.3 crore, up by 18.7% YoY
  • Net sales: ₹312.8 crore, up by 20.5% YoY, from ₹259.5 crore in Q1FY2019

Losses increased substantially:

  • Consolidated net loss increased 8.5 times from ₹22.3 crore in Q1FY2019 to ₹190.9 crore in this quarter
  • However, profit had amounted to ₹325.2 crore last quarter (Q4FY2019), which means it fell by 158% this quarter
  • Operating EBITDA at ₹101 crore, up by 19.8% YoY
  • Profit before tax: ₹113.9 crore, up by 11% YoY

Naukri.com

  • Revenue for recruitment segment, Naukri.com, was ₹219.5 crore, up by 19.2% YoY
  • Profits: ₹109.3 crore, up by 7.1% YoY

99acres

  • 99Acres revenue: ₹56.4 crore, up by 34% YoY
  • Losses reduced by 73.4% YoY from ₹12.8 crore in Q1FY2019 to ₹3.4 crore

Other businesses

  • Revenue from others’ segment was ₹43.8 crore, a drop of 14.1% YoY
  • Losses increased by 24.8% YoY to ₹19.1 crore

Acquired Highorbit: Info Edge acquired Highorbit Careers for ₹80.8 crore, with ₹65 crore in equity and ₹15.1 crore in compulsorily convertible preference shares.

Download: Press Release | Financials

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