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InfoEdge consolidated losses increase 174% YoY, Naukri revenue up 21% in Q2FY20

InfoEdge posted a 16% YoY increase in consolidated total income to Rs 357.7 crores, but consolidated net losses also ballooned by 174% YoY to Rs 111.8 crore. The company released its financials for the quarter ended September 30, 2019 (Q2FY20) today. Billings increased 15.3% YoY to Rs 300.5 crore.

Both consolidated total income and net losses improved over the last quarter, i.e., Q2FY20. Total income increased slightly from Rs 349.2 crore and net losses reduced slightly from Rs 190.9 crore.

Naukri‘s revenue increased by 21% YoY to Rs 231.1 crore, but net profits increased by 16% YoY to Rs 117.4 crore. Both revenue and profits increased only marginally over the last quarter.

99acres, the real estate segment, posted 26% YoY increase in revenue to Rs 57 crore. 99acres also turned in profits of Rs 78.3 lakh from losses of Rs 5.9 crore in the same quarter last year, and losses of Rs 3.4 crore last quarter. 99acres grew over 20% YoY in terms of billing and revenue during the quarter, said InfoEdge CFO Chintan Thakkar. InfoEdge has also invested Rs 5 crore, as announced last week, in Terralytics Analysis Pvt Ltd, which is a real estate analytics platforms for sale to banks, developers, and consultancy forms.

Revenue from Jeevansathi and Shiksha reduced by 6% YoY to Rs 41.3 crore, losses ballooned by 60% YoY to Rs 27.2 crore this quarter, from losses of Rs 17 crore in the same quarter last year.

Last week, InfoEdge invested Rs 21 crore in Adda247, operated by Metis Eduventures Pvt Ltd, which InfoEdge had acquired last month. Adda247 is an online government jobs preparation platform, with multiple portal including bankersaddda.com, sscadda.com, among others.

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