Online classifieds company InfoEdge (India) Ltd. said it will continue to invest in brand and technology next year even as operating expenses rise.
“We'll continue our investment in brand and technology and that might have some impact on the overall operating expenses but it is a matter of how much growth we are able to achieve,” Chief Financial Officer Chintan Thakkar told BloombergQuint during an interview. If the company continues to achieve 20-20.5 percent growth, the impact on the margin may get absorbed, he said. “Brand and technology are areas of long-term investment for us and we are going to push for in terms of revenue.”
The company, which owns jeevansathi.com and naukri.com, among other online classifieds, recorded a profit of Rs 66.3 crore in the March quarter against a loss of Rs 13.8 crore a year ago. It had suffered an exceptional loss of Rs 70.3 crore in the base quarter.
Other Highlights
(Year-On-Year)
- Revenue rose 21.6 percent to Rs 292.6 crore.
- Operating profit rose 53.8 percent to Rs 91.2 crore.
- Operating margin stood at 31.2 percent against 24.6 percent.
The company also acquired a 100 percent stake in High Orbit Careers, which runs iimjobs.com, for Rs 80.82 crore to consolidate Info Edge's position in online recruitment. “This is one of the examples in which we will build our assets that will help our business and strengthen our position in the segments that we play in,” Thakkar said.
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