Info Edge Considering Dividend
Info Edge India Ltd, which runs top recruitment portal Naukri.com, has informed the BSE that a meeting of the board of directors of the company will be held on April 28, to consider a dividend to shareholders, if any, for FY 2010-11.
It will also consider and approve the audited financial results for the year ended March 31, 2011.
Info Edge operates a bunch of portals like Naukri.com, a recruitment site, Jeevansathi.com, a matrimony site, and property search site 99acres.com.
On April 30, 2010, the company had recommended a dividend of Re. 0.75 per share (with a face value of Rs. 10 per share).
The firm has been actively investing in start-up ventures and consumer internet companies such as Applect Learning Systems Pvt Ltd (which runs Meritnation.com) and Etechaces Consulting and Marketing Pvt Limited (which runs Policybazaar.com) as well as Zomato.com, (formerly Foodiebay) in 2010.
Info-Edge recently decided to invest up to Rs 1 crore ($250,000) in Noida-based Nogle Technologies Pvt Ltd, which plans to launch a content sharing startup called Blinkk.me which is in its communication to the stock exchanges had earlier named the website as www.ynotshare.com.
In 2010, Info Edge invested Rs 4.7 crore in Zomato.com, which began as a restaurant reference site and is now diversifying into new listing categories such as night life and events. After receiving the funds from Info Edge, Zomato is now currently in the process of sprucing up its services by developing mobile apps, integrating maps and branching out to new cities.
For the third quarter ended December, 2010 over the year ago period, the company had reported 40 per cent jump in net profit to Rs. 21.91 crore with an equally strong 27.5 per cent increase in operating revenues for the quarter. These numbers did not include earnings of its subsidiaries AllCheckDeals Pvt Ltd and Applect Learning that made losses last financial year.
According to the company, in the December quarter, two businesses - Naukri and 99acres performed well, benefiting from the business cycle and the improved competitive position. Income from recruitment solutions grew 24 per cent year on year while 99acres.com grew 74 per cent year on year, in the December quarter.