Latest News | Info Edge Q1 Profit Surges 75 Pc to Rs 259 Cr
Get latest articles and stories on Latest News at LatestLY. Internet firm Info Edge, which owns platforms like Naukri.com, Jeevansathi.com, on Friday posted 75.6 per cent jump in consolidated profit at Rs 258.8 crore for June quarter on account of all-round growth led by recruitment solutions.
New Delhi, Aug 9 (PTI) Internet firm Info Edge, which owns platforms like Naukri.com, Jeevansathi.com, on Friday posted 75.6 per cent jump in consolidated profit at Rs 258.8 crore for June quarter on account of all-round growth led by recruitment solutions.
The company had posted a net profit of Rs 147.4 crore for April-June FY24.
Revenue from operations increased 8.1 per cent to Rs 677 crore during the quarter from Rs 626 crore a year ago.
Revenue from the recruitment business grew 5.6 per cent year-on-year. Revenue from real estate vertical 99acres increased 19.5 per cent, Jeevansathi (34.7 per cent), and education business Shiksha (18.4 per cent).
"Cash losses from our non-recruitment businesses decreased 73 per cent to Rs 16.5 crore in the first quarter of FY'25, driven by 18 per cent YoY increase in billings and controlled cost increases.
"Our matchmaking business, Jeevansathi, is nearing breakeven in the first quarter. The core recruitment business...continued to demonstrate growth in first quarter," Info Edge MD and CEO Hitesh Oberoi said.
The Info Edge board also approved merger of three subsidiaries Axilly Labs, Diphda Internet Services and Zwayam Digital into the company to simplify and streamline corporate structure by reducing the number of legal entities in the group.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)