Info Edge's Q4 profit shoots up over 429% to Rs 33.6Cr
Info Edge (India) Ltd, which runs a slew of internet properties, including Naukri, 99acres, Jeevansathi, and Shiksha, registered a five-fold rise in net profit for the quarter ended March 31, 2014 to Rs 33.6 crore against Rs 6.34 crore in the year-ago period.
For the full year ended March 31, net profit rose 25.66 per cent to Rs 128.49 crore, while revenues grew 16.15 per cent to Rs 505.14 crore, mainly on the back of a 47.2 per cent growth in the real estate business, while the recruitment solutions business grew 9.8 per cent.
Net revenue for the March quarter grew 19 per cent to Rs 138 crore compared with Rs 116.06 crore in the same quarter the previous fiscal, according to a disclosure it filed with the stock exchanges.
During the quarter, Info Edge bought Rs 1.5 crore ($239,385) worth of shares of online photography startup Canvera Digital Technologies Pvt Ltd from a few unnamed angel investors.
Meanwhile, the company's board has recommended a final dividend of Rs 1.50 per share, subject to the approval of the shareholders in the ensuing Annual General Meeting. This is in addition to the interim dividend of Rs 1.00 per share paid during the year.
Early this year, Ambarish Raghuvanshi, co-founder and chief financial officer (CFO) of Info Edge (India), resigned from his position. He will relinquish his position effective May 2014.
Noida-headquartered Info Edge employs around 3,000 people and operates through 48 offices in 31 cities in India and overseas.
(Edited by Joby Puthuparampil Johnson)