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Info Edge (Naukri) posts net income of Rs 14.73 crore for 2Q 2009-10

Info Edge India (Naukri.com) has reported a decline of 6 per cent in its net income at Rs 14.73 crore for the second quarter ended September 2009, compared to Rs 15.67 crore posted for the corresponding quarter of the previous fiscal year. Total income decreased by 11 per cent to Rs 64.51 crore in the second quarter of the current fiscal year, as compared to Rs 72.32 crore a year ago.

Info Edge India (Naukri.com) has reported a decline of 6 per cent in its net income at Rs 14.73 crore for the second quarter ended September 2009, compared to Rs 15.67 crore posted for the corresponding quarter of the previous fiscal year. Total income decreased by 11 per cent to Rs 64.51 crore in the second quarter of the current fiscal year, as compared to Rs 72.32 crore a year ago.

Ambarish Raghuvanshi, CFO and director, Info Edge India, has said, “The hiring environment continues to improve, albeit gradually. The drop in topline revenues and operating income reflects the changed scenario from the last year and is in line with expectations. However, the improvement is reflected in growth based on sequential quarter.”

According to Info Edge, the company’s EBITDA (earnings before interest, taxes, depreciation and amortization) at Rs 23.51 crore increased by 5 per cent from Rs 22.39 crore as compared to the corresponding quarter in the fiscal year 2008-09. Total Expense including interest and depreciation decreased by Rs 9.11 crore to Rs 42.55 crore compared to the corresponding quarter in FY 08-09.

Jeevansathi business has reported a small EBITDA gain during the quarter. 99acres.com business continued to be in investment mode during the September 2009 ended quarter however, the losses reduced. Other verticals apart from Naukri.com and Quadrangle (including 99acres.com, Jeevansathi.com) incurred an EBITDA loss of Rs 3.32 crore as compared to Rs 8.62 crore for the same quarter last year. Jeevansathi.com has achieved a growth in revenues at 15.8 per cent.

Info Edge India owns and manages job site Naukri.com, matrimonial portal Jeevansathi.com, real estate portal 99acres.com, education portal Shiksha.com, an online brokerage service for residential real estate AllCheckDeals.com, an offline executive search firm Quadrangle, and Naukri Gulf – its foray into the Middle East market. Info Edge also owns AskNaukri.com, a career guidance site and Brijj.com, a professional networking site.

With its headquarters in Noida (NCR), Info Edge India employed over 1450 people as of September 30, 2009 across 53 offices in 34 cities in India and overseas offices in Dubai and Bahrain catering to the Middle East market, compared to 1790 people employed across 66 offices in 42 cities in India and overseas offices in Dubai and Bahrain a year ago.

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