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Info Edge (Naukri) net profit grows by 105% at Rs 55.5 crore for 2007-08

Info Edge India (Naukri.com) has posted a growth of 105 per cent in its net income at Rs 55.49 crore for the year ended March 2008, as compared with Rs 27.07 crore recorded a year ago. Revenues increase by 63 per cent at Rs 239.66 crore for the fiscal year 2007-08, as compared with Rs 147.16 crore reported for the March 2007 ended year.

Info Edge India (Naukri.com) has posted a growth of 105 per cent in its net income at Rs 55.49 crore for the year ended March 2008, as compared with Rs 27.07 crore recorded a year ago. Revenues increase by 63 per cent at Rs 239.66 crore for the fiscal year 2007-08, as compared with Rs 147.16 crore reported for the March 2007 ended year.

In the fourth quarter ended March 2008, Info Edge India recorded a net profit of Rs 15.61 crore, a growth of 54 per cent as compared with Rs 10.13 crore reported for the fourth quarter of the previous fiscal year. Revenues increased by 46 per cent at Rs 68.99 crore for the March 2008 ended quarter, as compared with Rs 47.29 crore recorded for the corresponding quarter a year ago.

“The company has turned in good results in spite of the volatile environment largely due to innovation in product technology and R&D. We expect the creation of new products and features to lead our growth strategy going forward,” Sanjeev Bikhchandani, co-founder and CEO, Info Edge India, has said.

Ambarish Raghuvanshi, CFO and director, Info Edge India, has added, “We have been able to demonstrate significant operating leverage in the key recruitment segment through improvements at various ends of the value chain.”

During the 2007-08 fiscal year, Info Edge India’s total expense increased by 49.5 per cent to Rs 161.01 crore as compared to Rs 107.65 crore spent during the previous fiscal year. According to Info Edge, the primary movers for the increase in the annual expense were staff cost and advertising cost.

While the staff cost increased by 51.5 per cent due to additional head counts for new business lines and senior level hiring, advertising cost increased by 59.5 per cent over the last financial year primarily due to increased spending on brand building for new and existing businesses.

Info Edge India owns Naukri.com (jobs), Jeevansathi.com (matrimony), 99acres.com (real estate), AskNaukri.com (career guidance) and Brijj.com (professional networking site). The company employs over 1500 people and operates through 61 offices in 41 cities in India and overseas offices in Dubai and Bahrain catering to the Middle East market.

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