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Info Edge (Naukri) 1Q net profit grows by 11% at Rs 13 crore

Info Edge India (Naukri.com) has posted a growth of 29.2 per cent in its total income at Rs 67.14 crore for the first quarter ended June 2008, as compared with Rs 51.96 crore recorded in the corresponding quarter of the previous fiscal year. Net profit increased by 11.4 per cent at Rs 12.97 crore in the first quarter of the current fiscal year, as compared with Rs 11.64 crore reported for the June 2007 ended quarter.

Info Edge India (Naukri.com) has posted a growth of 29.2 per cent in its total income at Rs 67.14 crore for the first quarter ended June 2008, as compared with Rs 51.96 crore recorded in the corresponding quarter of the previous fiscal year. Net profit increased by 11.4 per cent at Rs 12.97 crore in the first quarter of the current fiscal year, as compared with Rs 11.64 crore reported for the June 2007 ended quarter.

Ambarish Raghuvanshi, CFO and director, Info Edge India, has said, “The operating margins in the core recruiting business have expanded, thereby demonstrating operating leverage. Secondly, we have added more clients which positions us well to grow our business as clients’ recruitment needs increase.”

According to Info Edge India, its other income has come down by 25.8 per cent at Rs 4.02 crore from Rs 5.42 crore in the corresponding quarter of FY07-08. This decline is primarily for the reason that about one third of the investment portfolio has been moved into longer maturities where returns will be accounted for in the next financial year.

Info Edge India owns a job portal Naukri.com, an offline executive search firm Quadrangle, a matrimonial site Jeevansathi.com, a real estate portal 99acres.com, a career guidance site AskNaukri.com and a professional networking site Brijj.com. The company launched Shiksha.com, a site catering to the fast growing education services market, during the quarter.

Info Edge employs over 1800 people and operates through 67 offices in 41 cities in India and overseas offices in Dubai and Bahrain catering to the Middle East market.

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