Info Edge (India) Ltd., the parent company of Naukri and 99acres, reported a surge in its first-quarter profit.
The company's consolidated net profit surged 47.5% year-on-year to Rs 233 crore in the quarter ended June 2024, according to an exchange filing. Revenue, during the period, rose 8.1% to Rs 677 crore.
Info Edge (India) Q1 Results: Key Highlights (Consolidated, YoY)
Revenue rose 8.1% to Rs 677 crore.
Ebitda rose 10.3% to Rs 223 crore.
Ebitda margin was at 33% versus 32.4%.
Net profit rose 47.5% to Rs 233 crore.
On segmental basis, the recruitment business, which contributed highest to the revenue, saw a modest year-on-year growth of 5%, while 99 acres saw the highest revenue growth at 19.5%.
In terms of operating profits, the recruitment business declined 5% year-on-year, while 99 acres reported a loss of Rs 13.6 crore versus a loss of Rs 22.4 crore during the same period last year. The other segment which largely includes Jeevansathi and Shiksha business also reported reduced losses on a year-on-year basis.
Shares of the company were trading 1.70% higher at Rs 7.030 apiece, compared to 1.06% gain in the benchmark Nifty 50 at 2 p.m.
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