Info Edge (India) on Friday reported a 59% drop in its standalone net profit to Rs 86 crore for the quarter ended September 2024, compared with Rs 208 crore in the last-year period.
Revenue from operations recorded 11% growth at Rs 656 crore for the quarter under review as against Rs 593 crore in the corresponding quarter of the previous fiscal.
The recruitment business continued the uptick in Q2, whereas non-recruitment businesses also continued to grow with reduced operating losses.
Revenue growth in the recruitment business was 8.5% year on year and for non-recruitment business verticals namely 99acres (the real estate vertical), Jeevansathi (the matrimony business), and Shiksha (the education business) was 16.9%, 33.4%, and 9.7% respectively.
Billings for the company on a standalone basis for the quarter grew by 14.3% year on year and stood at Rs 650.3 crore.
The company improved its operating profit margins at 38.3% and registered 15% growth in its operating profit to Rs 251 crore. The standalone business generated cash from operation (before taxes) of Rs 261.7 crore for the quarter.
“We are pleased to see double-digit billings growth in the recruitment business after several weak quarters. Increased cash generation from this segment, coupled with reduced losses in our non-recruitment businesses, position us strongly for sustainable growth," said Hitesh Oberoi, MD and CEO, Info Edge.
"With growth in our largest business segment, recruitment, we have improved our operating margins and cash generation. Our cash balance reached Rs 4,268 crore as of September 2024, highlighting a solid balance sheet," said Chintan Thakkar, Director and CFO, Info Edge.
On Friday, Info Edge shares traded 4% lower at Rs 7,566 on the NSE.
Revenue from operations recorded 11% growth at Rs 656 crore for the quarter under review as against Rs 593 crore in the corresponding quarter of the previous fiscal.
The recruitment business continued the uptick in Q2, whereas non-recruitment businesses also continued to grow with reduced operating losses.
Revenue growth in the recruitment business was 8.5% year on year and for non-recruitment business verticals namely 99acres (the real estate vertical), Jeevansathi (the matrimony business), and Shiksha (the education business) was 16.9%, 33.4%, and 9.7% respectively.
Billings for the company on a standalone basis for the quarter grew by 14.3% year on year and stood at Rs 650.3 crore.
The company improved its operating profit margins at 38.3% and registered 15% growth in its operating profit to Rs 251 crore. The standalone business generated cash from operation (before taxes) of Rs 261.7 crore for the quarter.
“We are pleased to see double-digit billings growth in the recruitment business after several weak quarters. Increased cash generation from this segment, coupled with reduced losses in our non-recruitment businesses, position us strongly for sustainable growth," said Hitesh Oberoi, MD and CEO, Info Edge.
"With growth in our largest business segment, recruitment, we have improved our operating margins and cash generation. Our cash balance reached Rs 4,268 crore as of September 2024, highlighting a solid balance sheet," said Chintan Thakkar, Director and CFO, Info Edge.
On Friday, Info Edge shares traded 4% lower at Rs 7,566 on the NSE.
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