The company's revenue from operations also grew 20% YoY and 2% QoQ to INR 827.92 Cr
Its expenses also jumped 7% YoY to INR 484.58 Cr
Info Edge’s MD and CEO Hitesh Oberoi said that the company’s matchmaking business Jeevansathi neared breakeven in the quarter
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Online classified company Info Edge reported a robust growth in its consolidated profits in the first quarter of the ongoing fiscal year (Q1 FY25).
The company’s profit zoomed to INR 258.85 Cr, a 75% year-on-year (YoY) increase from the INR 147.4 Cr it made in Q1 FY24. On a sequential basis, the Sanjeev Bikchandani-led company’s profits increased by 195% from last quarter’s INR 87.96 Cr.
In tandem with the profit increase, the company’s revenue from operations also grew 20% YoY and 2% QoQ to INR 827.92 Cr. Meanwhile its expenses also grew to INR 484.58 Cr, an increase of 7% YoY and 3% QoQ.
“Cash losses from our non-recruitment businesses have decreased by 73% to INR 16.5 Cr in Q1FY25, driven by an 18% YoY increase in billings and controlled cost increases. Our matchmaking business, Jeevansathi, is nearing breakeven in Q1,” said Info Edge’s MD and CEO Hitesh Oberoi.
The company said that its main business, job board Naukri.com, saw an “uptick” of 5.6% YoY growth in its revenues to INR 487.17 Cr.
Meanwhile, it said that revenues for its real estate business 99acres, matrimony business Jeevansathi and education business Shiksha grew by 19.5%, 34.7%, and 18.4% YoY respectively.
While Naukri’s profit before tax stood at INR 251.27 Cr, the other three businesses cumulatively brought in a loss of INR 43.29 Cr.
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