Info Edge Q1 revenue up 20%
Noida-headquartered online classifieds company Info Edge India saw its net sales (revenue) for the first quarter ended June 30, 2019 increase 20.5% to Rs 312.8 crore on a standalone basis compared to Rs 259.5 crore during the corresponding quarter of the last financial year.
Info Edge India, which runs classifieds portals such as recruitment platform Naukri.com and matrimonial platform Jeevansathi.com, reported a net profit of Rs 67 crore for Q1, a growth of around 6%.
The company, which is one of the largest shareholders of online food ordering platform Zomato, had reported a net profit of Rs 63 crore during the same period of the preceding fiscal.
Info Edge’s net profit remained flat on a sequential basis as it had reported Rs 66 crore during the March quarter.
“Our key metrics such as billing, revenue, total income and operating EBITDA growth are touching about 20% on YoY (year-on-year) basis. We continue to leverage our strong cash surplus position to invest in technology and branding,” said Chintan Thakkar, chief financial officer, Info Edge.
Apart from Naukri.com and Jeevansathi.com, Info Edge also runs other online classifieds portals like real-estate platform 99acres.com and education platform Shiksha.com.
On a consolidated basis, the company reported revenue of Rs 320 crore. Naukri’s revenue stood at Rs 220 crore while that of the real estate platform was Rs 56 crore.
Founded in 1995 by former Lintas India and CMYK Printech executive Sanjeev Bikhchandani, Info Edge recently forayed into the Gulf market with NaukriGulf.com.
Info Edge India has made strategic investments in a host of online properties beyond Zomato in companies such as edutech firm Applect Learning Systems that operates Meritnation.com, fintech portal Policybazaar.com operated by Etechaces Marketing and Consulting and Rare Media Company’s enterprise solutions platform Bluedolph.in.
Earlier this year, Info Edge India acquired recruitment portal IIMJobs.com operated by Highorbit Careers in a deal worth $11.58 million.