Naukri.com parent Info Edge reports 20% rise in PAT; revenue up 18% in Q3
Info Edge (India) Ltd, which runs a slew of internet properties, including Naukri, 99acres, Jeevansathi and Shiksha, has reported net profit of Rs 38.6 crore for the quarter ended December 31, 2014, up by about 20 per cent compared with the corresponding period last fiscal.
The company's net revenues climbed 18 per cent to Rs 145.7 crore in the same period. Sequentially, the firm's revenues declined marginally from Rs 147.5 crore in the three months ended September 30, while net profit increased from Rs 33.2 crore.
These are standalone numbers and do not include financials of sites such as Meritnation and Zomato run by its subsidiaries.
"The high teens growth rate in revenues of the core recruitment business in Q3 is in line with the previous quarters of the financial year and it reflects consistency, stability and inherent strength of our business," Chintan Thakkar, CFO, Info Edge, said.
The firm stepped up its investment in 99acres and this resulted in the overall operating EBITDA declining by about Rs 6 crore, he said.
"This trend of higher investments in the operating expenses of 99acres is likely to continue for the coming quarters," said Thakkar.
The firm had raised Rs 750 crore ($125 million) through a qualified institutional placement (QIP), which is largely to be used to invest in 99acres.com.
(Edited by Joby Puthuparampil Johnson)