Noida based Info Edge (India) Limited owner of Naukri, Jeevansathi, 99acres, Shiksha.com has today announced results for the 1st quarter ended June 30, 2015.
Info Edge recorded Net Sales of Rs 171.8 crore for the quarter ended June 30, 2015 compared to Rs 145 crore in quarter ended June 30, 2014, up 19%.
The company reported PAT of Rs. 28.7 crore for the quarter ended June 30, 2015 compared to Rs.39.8 crore for quarter ended June 30, 2014, down by 28% over the corresponding quarter in FY 2014-15 primarily due to higher investment in 99acres.
Info edge also owns Quadrangle – an offline executive search business, and Naukri Gulf (a leading jobsite in the Middle East market).
Info Edge has made significant strategic investments into emerging internet companies – meritnation.com, policybazaar.com, mydala.com, Canvera.com, happily unmarried.com and zomato.com.
As per the company, it employs over 4000 people and operates through 48 offices in 31 cities in India and overseas offices in Dubai, Riyadh, Abu Dhabi and Bahrain catering to the Middle East market.
As on 30th June 2015, naukri has approximately 42 million resumes. It has added on an average 13000 resumes daily during this quarter. Last year for the same quarter Naukri was able to add 12000 resumes daily.
Recruitment Solutions of Info edge has added Rs 1,247 million of net sales during the first quarter out of total sales of Rs 1718 million. Balance Rs 471 million has been contributed by other verticals.
Recruitment Solutions of Info edge comprise of Naukri.com,NaukriGulf.com, Quadrangle, Job Seeker Services and Firstnaukri. It has contributed Rs 661 million operating profit during the quarter. Other verticals have a loss of Rs 423 million. In total Info edge has a profit of Rs 238 million (i.e. 661 million – 423 million).
Other Verticals comprise of Jeevansathi, 99acres, allcheckdeals, Shiksha and Brijj. Brijj was launched by Info edge in August 2007, Allcheckdeals in November 2007 and Shiksha in May 2008.
The recruitment Solution segment continues to grow at a healthy rate of about 20% with the segment profit at 53%. 99acres has accelerated investments in the business and we are confident of continuing to lead in this space. During the quarter, recruitment solutions grew by about 20% while the real estate vertical grew by 12% over the corresponding quarter in FY 2014-15. The margins in recruitment solution segment is at about 53%. 99acres continuing investment in Product, Technology, Operation and Marketing has resulted in EBITDA loss of 34.7cr for the segment. The overall impact of this is that the PAT is 28.7 crore against previous year PAT of 39.8 crore, Mr Chintan Thakkar, CFO of Info edge (india) limited said in a statement.