Chennai, NFAPost: Info Edge (India) Limited, which runs internet businesses- Naukri.com, Jeevansathi.com, 99acres.com and Shiksha.com, has posted a consolidated net profit of Rs 93.66 crore for the quarter ended June 30, 2020.
It had reported a net loss of Rs 187.58 crore in the corresponding quarter of the last year. The company’s consolidated revenue declined 10.85% YoY to Rs 285.05 crore. Last year the company’s revenues were Rs 319.74 crore.
Its deferred sales revenue (amount collected in advance) as at June 30, 2020 is Rs 371.7 crore, down by 25% over the quarter ended June 30, 2019. Operating EBITDA has increased by 3.5% from Rs 101.0 crore (Q1, FY 2019-20) to Rs 104.6 crore. The company reported PBT (before exceptional item) of Rs 112.2 crore for the quarter ended June 30, 2020 compared to Rs 113.9 crore for quarter ended June 30, 2019.
Info Edge CFO Chintan Thakkar said, “We continue to evaluate the unfolding situation of the pandemic. Work from home and business continuity plan is operating satisfactorily.”
He added, “The Billings are down by 43.9% in Q1FY’21 on YoY basis as a result of the nationwide lockdown. However, the immediate impact on the Revenue tends to be lower as we recognise the Revenue over the tenure of the contract. We have adopted a disciplined approach to discretionary spend in areas like Marketing. As a combined effect, operating margin is at 37.3% for the quarter as compared to 32.3% for the same quarter previous year.”
Info Edge also owns Quadrangle, an offline executive search business, and Naukri Gulf (a leading jobsite in the Middle East market). Apart from this, Info Edge has made significant strategic investments into emerging internet companies – zomato.com, policybazaar.com and happily unmarried.com.
Info Edge has ventured into newer businesses and markets, invested in internet startups. The company has attracted a very high quality list of institutional shareholders. With its headquarters in Noida (NCR), the company employs around 4,500 people and operates through 77 offices in 47 cities in India and other overseas offices in Dubai, Riyadh, Abu Dhabi and Bahrain catering to the Middle East market.
Shares of the company climbed over 2% on Tuesday. The shares were trading 2.68% higher at Rs 3,380 on the BSE.