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Info Edge Q4 net profit slips over 15% to Rs 32.8 crore

LiveMint logoLiveMint 29-05-2017 PTI

New Delhi: Info Edge, which runs online job portal Naukri.com, on Monday posted a 15.6% dip in standalone net profit to Rs32.8 crore for the fourth quarter ended 31 March, 2017. It had posted a net profit of Rs38.9 crore in the corresponding quarter of previous fiscal as per Indian accounting standards, it said in a statement.

Apart from Naukri.com, Info Edge also runs Jeevansathi.com (matrimonial portal), 99acres.com (real estate portal) and Shiksha.com, an education website. It also owns Quadrangle –- an offline executive search business, and Naukri Gulf (a job site for the Middle East market).

The company’s total income from operations stood at Rs208.4 crore in the quarter under review, up almost 8% from Rs193 crore in the January-March 2016 quarter. “We are pleased with the remarkable increase of 70% in our operating EBITDA in FY17 as compared to FY16.

There is improvement in overall growth momentum as reflected by increase in Billing and operational EBITDA in the fourth quarter results,” Info Edge Chief Financial Officer Chintan Thakkar said. During the quarter, recruitment solutions grew by about 9.2%, while the real estate vertical was up 5.7% over the year-ago period. Info Edge’s board has recommended a final dividend of Rs1.5 per equity share of Rs10 each.

For 2016-17, standalone net profit jumped over 63% to Rs204.4 crore, while revenue was up 11.7% to Rs802.1 crore as compared to the previous financial year. Recruitment solutions grew by 13% and real estate vertical was up 11.5% in 2016-17 over the previous year.

Info Edge has also made significant strategic investments into emerging internet companies like Zomato, Meritnation, Policybazaar, Mydala, Canvera and Happily Unmarried. Shares of the company closed 3.3% up at Rs893.85 on BSE.

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