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Naukri, 99acres see recovery in traffic and billings: InfoEdge Q2

Info Edge (India) Ltd. saw recovery across segments with traffic returning to Naukri and 99acres, its recruitment and real estate platforms, in the quarter ended September 30. Traffic returned to pre-COVID levels on both platforms. Naukri billings were back to 80% in the quarter. Billing: ₹249.5 crore, down by 17% YoY Revenue: ₹256.1 crore, down by 19.1%  Naukri Traffic returned to pre-Covid levels in Q2, witnessing a "solid recovery" in collections, from a 48% decline in corporate collections in Q1, down 13% YoY by Q2, and down only 10% YoY in September, according to CEO and managing director Hitesh Oberoi. Recovery was seen across sectors, with billings in IT and telecom, which comprises the largest chunk of revenue, reaching pre-Covid levels and driving the recovery. Segment recovery: Hospitality, tourism, and travel are not in a good place. Activity from IT companies is at pre-Covid levels. Healthcare, education, telecom, and insurance are doing okay, but are still down compared to pre-Covid. Things are getting better every week, and should get better if the Covid-19 situation improves.   Billings recovery: Billing recovered to 80% of Q2FY20, and 90% of September 2019. A portion of the business came from customers who had deferred their subscriptions for a few months because of COVID-19, and they may renew their subscriptions in Q3 and Q4, Oberoi said. Recruitment engagement has been recovering, though recruiter search down was down 12% in September, and 30% in Q2 over the previous year.  Market share and competition: Naukri already has a…

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