SUMMARY
- Info Edge’s profit soared to Rs 258.85 crore in Q1 FY25 marking a 75% YoY rise from Rs 147.4 crore it recorded in Q1 FY24.
- The Sanjeev Bikchandani-led company’s income from its core operations also saw a 20% YoY growth and a 2% QoQ increase to Rs 827.92 crore.
- Info Edge’s operational expenses rose to Rs 484.58 crore growing 7% YoY and 3% QoQ.
The online classified platform Info Edge saw a significant rise in its profits during the first three months of the current fiscal year (Q1 FY25).
The firm’s profit soared to Rs 258.85 crore marking a 75% YoY rise from the Rs 147.4 crore it recorded in the same period last year. On a QoQ basis, the company’s earnings jumped by 195% from the previous quarter’s Rs 87.96 crore.
The Sanjeev Bikchandani-led company’s income from its core operations also saw a 20% YoY growth and a 2% QoQ increase to Rs 827.92 crore. At the same time, its operational expenses rose to Rs 484.58 crore growing 7% YoY and 3% QoQ.
Info Edge’s MD and CEO Hitesh Oberoi said, “Cash losses from our non-recruitment businesses have decreased by 73% to INR 16.5 Cr in Q1FY25, driven by an 18% YoY increase in billings and controlled cost increases. Our matchmaking business, Jeevansathi, is nearing breakeven in Q1. The core recruitment business, which experienced several weak quarters last fiscal year, continued to demonstrate growth in Q1 as well.”
Info Edge reported that its primary business, the job portal Naukri.com, experienced an increase of 5.6% YoY in its earnings, reaching Rs 487.17 crore.
At the same time, the company noted that its divisions in real estate, matrimony, and education- 99acres, Jeevansathi, and Shiksha, saw growth rates of 19.5%, 34.7%, and 18.4% YoY, respectively.
Naukri.com’s profit before taxes was Rs 251.27 crore, whereas the earnings of its real estate, matrimony, and education divisions combined resulted in a loss of Rs 43.29 crore.
Additionally, the Info Edge board authorized the integration of three subsidiaries, Axilly Labs, Diphda Internet Services, and Zwayam Digital, into the parent company to simplify and streamline its organizational structure by reducing the number of legal entities within the group.
