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Info Edge earnings: Covid-19 hit 99 Acres but not Naukri.com, net sales down by 10.2%

Info Edge (India) Limited, the parent company of subsidiaries such as Naukri.com and Jeevan Saathi, on Monday announced its results for the fourth quarter of FY 2021 with net sales in the respective quarter down by 10.2 per cent, billing up by 25.2%, total income down by 3.4% and operating earnings before interest, taxes, depreciation, and amortisation (EBITDA) down by 44. Commenting on the results, Chintan Thakkar, CFO said “We have witnessed continued recovery during the quarter, led by billings growth in Naukri India and 99acres by 26.0% and 41.5%respectively, over Q4 billings of FY’20. As compared with Q4 of FY’19, a pre-pandemic quarter, the billings in Naukri India and 99acres have grown 16.7% and 7.5% respectively List of few subsidiaries 1. Allcheckdeals India Private Limited 2. Interactive Visual Solutions Private Limited 3. Jeevansathi Internet Services Private Limited 4. Naukri Internet Services Limited List of few joint ventures 1. Zomato Media Private Limited 2. Makesense Technologies Limited 3. Happily Unmarried Marketing Private Limited 4. Nopaperforms Solutions Private Limited 5. International Education Gateway Private Limited 6. Agstack Technologies Private Limited 7. Shopkirana E Trading Private Limited Key takeaways 99 Acres took a hit during Covid second wave: During the investors call Hitesh Oberoi, CEO of Info Edge said that the property listing platform took a hit in April and May. He said that once the lockdown restrictions are removed, the company expects to see broader recovery on all fronts such as listings, traffic, revenue and enquiries. Naukri.com did not see any…

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Among other subjects, I cover the increasing usage of emerging technologies, especially for surveillance in India

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