Info Edge Ltd, which owns Naukri.com, Jeevansathi, 99Acres, Shiksha.com, among others has reported a net profit after tax (on a standalone basis) of Rs 39.8 crore for the quarter ended June 30, 2014, up 34.9% from Rs 29.4 crore in the same quarter last year.
The net sales also saw a significant growth to Rs 144.9 crore for the year, up 20% from Rs 120.7 crore sales in the same quarter last year and up 12.8% from 128.5 crore sales in the previous quarter. This is despite the fact that Q1 is typically a weak quarter for the company while Q4 is Info Edge’s best quarter, since recruitment firms tend to buy recruitment packages in advance during that quarter.
The operating EBITDA was at Rs 33.5 crore for the quarter, up 33.7% year-on-year (YoY) while the total income was at Rs 157.8 crore, up 17.6% YoY. Earnings Per Share for Info Edge was at Rs 3.64, up from Rs 2.69 in Q1-FY14, and from Rs 3.08 in Q4-FY14.
During the quarter, recruitment solutions grew by 15.5% YoY while the real estate vertical grew by 45.4% YoY.
Discussing the company’s quarterly results, Info Edge MD & CEO Hitesh Oberoi mentioned that its recruitment business continues to grow in line with improved business confidence levels. The IT and ITES sectors are reportedly growing well while other sectors have also apparently started showing positive signs.
Oberoi added that the real estate business is also growing at a healthy rate and they continue to lead in the vertical. They are also committed to make the necessary investments to consolidate this leadership.
Info Edge also leads the online recruitment business, with Naukri.com accounting for a majority of its topline. Its matrimonial portal, Jeevansathi.com, remains number three in the market, behind Consim Info’s Bharatmatrimony.com, and People Group’s Shaadi.com and reported its fifth straight loss making year.
PolicyBazaar’s $20 million Investment
During the quarter, PolicyBazaar raised $20 million investment, however Info Edge didn’t participate in the fund raising and its stake in Etechaces (policybazaar) has been diluted to 23%. So far, Info Edge has invested Rs 32.5 crore in Policybazaar.
Updates: Added information from press release
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