Info Edge Sees 75% Surge in Q1 Profit, Driven by Naukri and 99acres Growth
Info Edge's Q1 profit jumps 75.6% to Rs 258.8 crore, driven by strong growth in recruitment and real estate businesses.
Info EdgeNaukricom99acresJeevansathiShikshaReal Estate NewsAug 09, 2024
The company's revenue from operations increased by 8.1% to Rs 677 crore during the quarter, compared to Rs 626 crore in the same period last year. The recruitment business saw a 5.6% year-on-year growth, while the real estate vertical 99acres witnessed a 19.5% increase in revenue. Jeevansathi, the company's matchmaking business, saw a 34.7% growth, and the education business Shiksha reported an 18.4% increase.
The company's cash losses from non-recruitment businesses decreased by 73% to Rs 16.5 crore in the first quarter, driven by an 18% year-on-year increase in billings and controlled cost increases. The matchmaking business, Jeevansathi, is nearing breakeven in the first quarter. The core recruitment business continued to demonstrate growth in the first quarter, according to Info Edge MD and CEO Hitesh Oberoi.
In another development, the Info Edge board approved the merger of three subsidiaries - Axilly Labs, Diphda Internet Services, and Zwayam Digital - into the company. This move aims to simplify and streamline the corporate structure by reducing the number of legal entities in the group.
About Info Edge Info Edge is an Indian internet company that owns and operates several popular online platforms, including Naukri.com, 99acres, Jeevansathi.com, and Shiksha.com. The company is headquartered in Noida, India.
Information Info Edge was founded in 1995 by Sanjeev Bikhchandani and has since grown to become one of the leading internet companies in India. The company has a strong presence in the recruitment, real estate, and education sectors, and has expanded its operations to other countries in the Middle East and South Asia.
Info Edge (India) Ltd. is an Indian internet company that owns and operates several popular online platforms, including Naukri.com, 99acres, Jeevansathi.com, and Shiksha.com. The company is headquartered in Noida, India, and has a strong presence in the recruitment, real estate, and education sectors.
Frequently Asked Questions
What is Info Edge's Q1 profit for FY25?
Info Edge's Q1 profit for FY25 is Rs 258.8 crore, a 75.6% jump from the same period last year.
What drove Info Edge's Q1 profit growth?
The growth in recruitment and real estate businesses drove Info Edge's Q1 profit growth.
What is the revenue from operations for Info Edge in Q1 FY25?
The revenue from operations for Info Edge in Q1 FY25 is Rs 677 crore.
What is the growth rate of 99acres revenue in Q1 FY25?
The revenue of 99acres increased by 19.5% in Q1 FY25.
What is the status of Jeevansathi's business?
Jeevansathi is nearing breakeven in the first quarter.
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