Info Edge’s consolidated net profit rose to ₹ 232.29 crore in the first quarter of FY25, growing by 10.5% year-on-year. There was a continued rise in the recruitment business that helped grow the revenue from operations by 5% to ₹ 638.90 crore in the quarter.
While the operating profit margins of the company are stuck at 35.6%, the operating profit showed a growth of 8.8% for the quarter that ended in June. The recruitment business of the company under the brand Naukri.com carries its performance with full-fledged energy and contributes heavily to the company’s earnings, yielding almost ₹1,000 crore in EBITDA per annum. The Jeevansathi vertical is very close to breakeven; meanwhile, the education business, Shiksha, is turning profitable with a revenue growth target toward 18-20%.
Hitesh Oberoi, Chief Executive Officer at Info Edge, was positive in his tone during a post-earnings call, suggesting that the worst could be behind it for Naukri’s business. He pointed out that the company had ₹4,500 crore in reserves. Operations cash expanded by 20% yoy to ₹ 174 crore in this period under review, again pointing to strong finances.
Shares of Info Edge rose 3.5% on August 9, auguring well for investor confidence in the firm’s growth prospects.
Zomato makes up about a third of the market capitalization, the stake of Info Edge in the company. Furthermore, he commented on the unexpected success of Zomato and confirmed that the company does not intend to dilute its stake unless a significant need arises.
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Source: Moneycontrol
News Desk
