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Naukri Q2 Results Out On a Day When Stock Markets Globally Melt Down
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Infoedge (Naukri.com) has released its quarterly numbers are has reported a net income of Rs 15.67 crore for quarter ended September 2008, which is a 3.5 per cent growth over previous year. Total income is up by 24 per cent to Rs 72.32 crore as compared to Rs 58.50 crore a year ago.
According to Ambarish Raghuvanshi, CFO and Director, Info Edge India, has said, “The company’s results are good considering the difficult operating environment. We have continued to grow, albeit slowly despite the downturn in hiring levels. Other businesses, especially 99acres.com grew very appreciably. We therefore have engines of growth for the future which we are continuing to invest in.”
We had Interviewed the Infoedge COO Hitesh Oberoi yesterday who also felt that the growth would be slow in the year ahead.
Growth in portals like Jeevansathi.com and 99acres has been impressive though at 98.9 per cent and 40.3 per cent respectively. Though given that that non naukri revenue only contributes 12% this growth would have little or no impact on overall numbers.
Well Naukri numbers come out on a day when a global financial meltdown and Naukri’s own stock was down 5% today while it had lost close to 30% from the levels at which it got listed on the stock market in november 2006. while BSE Sensex crashed 13% down 1138 points. We had taken the VC’s view on the slowdown and it seems they were right when they called the slowdown to be 2-3 years. As analysts on Cnbc Tv18 one of the leading financial news channels have also been predicting atleast a 2 year long slowdown.
Questions to Readers: Which segments in digital media do you think will get affected? Do you think advertising online and mobile will grow? Do you think startups will continue to prosper in such an environment?
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i don’t think digital media will be affected that much.. advertising online will be .. but there will definitely be a boost in social media marketing. The way i look at it is in this way: Companies will cut down their budgets drastically in advertising, in turn they will push PR people for more visibility in media. Online media will start getting more importance. In near future there will be companies asking for social media marketing as a part of PR activities as it broadly falls into external communication. So hope my projection comes true and soon enough we shud have more business than ever! lol