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Economic slowdown: Some sectors have slowed, other are doing well, says InfoEdge’s Hitesh Oberoi on Q1FY20 earnings call

InfoEdge increased marketing costs substantially in all its businesses, specifically in Naukri and Jeevansathi. Its overall marketing spend for Q1FY20 was around Rs. 55 crores, which was up 46% year-on-year, Info Edge MD and CEO Hitesh Oberoi said on a investor call on August 13. Naukri numbers: Naukri billings was at Rs. 251.75 crores, up 19.8% year-on-year, while revenues were at Rs. 219.5 crores, a growth of 19.2% year-on-year. 19,000 fresh CVs every day, and the Naukri database grew to over 64 million CVs. Average CV modifications are at 360,000 CV mods per day. Hitesh Oberoi said Naukri's traffic share in the traditional job board is now at over 85% without Indeed, and at about 67% including Indeed. The IT and ITeS segment drove growth for Naukri last quarter, Southern markets did "phenomenally well" compared to markets in the West and North, he said. iimjobs, which Naukri had earlier acquired, reported billings of Rs. 5.7 crores, up by 22% YoY. It now operates at a near-breakeven level. What Naukri's competitors are upto: Indeed has been advertising aggressively for the last few quarters, but they've been out of the media for the last 2-3 months, said Oberoi. Naukri's ads are more directed at consumers and job seekers, and is unlikely to impact corporate revenue in the short-run. But Naukri hope to attact more job-seekers, download, and hopes that this will translate into increased revenue as well. Google Jobs is not really trying to monetize the platform, Naukri has not been giving…

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