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Info Edge (Naukri) posts net income of Rs 17.88 crore for 2Q 2010-11

Info Edge India (Naukri.com) has reported a growth of 21 per cent in its net income at Rs 17.88 crore for the second quarter ended September 30, 2010, compared to Rs 14.73 crore posted for the corresponding quarter of the previous fiscal year. Total income increased by 20 per cent to Rs 77.77 crore in the second quarter of the current fiscal year, as compared to Rs 64.51 crore a year ago.

Info Edge India (Naukri.com) has reported a growth of 21 per cent in its net income at Rs 17.88 crore for the second quarter ended September 30, 2010, compared to Rs 14.73 crore posted for the corresponding quarter of the previous fiscal year. Total income increased by 20 per cent to Rs 77.77 crore in the second quarter of the current fiscal year, as compared to Rs 64.51 crore a year ago.

The company’s EBITDA (earnings before interest, taxes, depreciation and amortization) at Rs 27.95 crore increased by 18 per cent from Rs 23.51 crore reported for the second quarter of the 2009-10 fiscal year. Total expense including interest and depreciation increased by Rs 8.67 crore to Rs 51.22 crore compared to the corresponding quarter in FY 09-10.

Ambarish Raghuvanshi, group president, finance and CFO, Info Edge India, has said, “The operating leverage in recruitment continues to play out due to market improvement and competitive position thereby expanding margins. Also losses in some of our investment stage businesses such as 99acres.com continues to reduce. Losses in Jeevansathi have increased due to an advertising campaign and this is as per plan.”

According to Info Edge India, income from recruitment solutions grew by 28 per cent while 99acres.com businesses grew by 74 per cent during the quarter over same quarter last year. Other verticals apart from recruitment solutions (including 99acres.com and Jeevansathi.com) had losses at Rs 5.9 crore at the EBITDA level compared to a loss of Rs 3 crore for the same quarter last year.

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