Info Edge Reports 75.6% Profit Surge Driven by Recruitment Growth

Internet firm Info Edge, owner of platforms like Naukri.com and Jeevansathi.com, reported a consolidated profit surge of 75.6% to Rs 258.8 crore for the June quarter, led by recruitment solutions. Revenue from operations grew by 8.1%, highlighting growth in various business verticals including real estate and education.

Info Edge, the internet firm behind platforms such as Naukri.com and Jeevansathi.com, announced a notable 75.6% increase in consolidated profit, amounting to Rs 258.8 crore for the June quarter, achieved through widespread growth primarily fueled by recruitment solutions.

The company had recorded a net profit of Rs 147.4 crore for April-June FY24. Revenue from operations surged by 8.1% to Rs 677 crore compared to Rs 626 crore the previous year.

Additionally, the recruitment business revenue grew by 5.6% year-on-year, while the real estate segment 99acres saw a 19.5% increase. Jeevansathi and the education business Shiksha recorded growth rates of 34.7% and 18.4% respectively. The company's cash losses from non-recruitment businesses decreased by 73%, reaching Rs 16.5 crore in Q1 FY25, driven by an 18% YoY increase in billings and controlled cost increases.

Key Info Edge subsidiaries, Axilly Labs, Diphda Internet Services, and Zwayam Digital, are set to merge to simplify and streamline the corporate structure, according to Info Edge MD and CEO Hitesh Oberoi.