Info Edge has announced annual and Q4 results with a 7.57% ( Rs 596.86 million) rise in net profit for year ending March 2009. Total income of FY 2008-2009 zoomed up 14.24% (Rs 2737.96 million ) over previous year , Operating income also increased 11.98% (Rs 2451.66 million) as compared to 2007-2008. InfoEdge achieved a net profit of 596.86 million vs Rs 554.88 million in 2007-2008 having growth of 7.57% . At the operating level, profit after tax at Rs.366.9 million an increase of 0.75% as compared to FY 07-08.
Info Edge backbone is Naukri.com which has been around since 1997 and has been helping other ventures of Info Edge in this difficult economic enviorment . Other ventures of InfoEdge Jeevansathi.com and 99acres.com still continue to be in investment mode and incurred a loss of 58.02 million lower by 20.7 million from the corresponding quarter in 2007-2008 achieving a growth in revenues at EBTIA level of 53.98% for 99acres.com and 31.49% for Jeevansathi.com.
InfoEdge has also launched many other ventures in 2008-2009 shiksha.com , FirstNaukri.com which are not contributing to the profits yet, Many other similar projects like asknaukri.com, brijj.com are also not contributing much in the profits which was also the case over the past.
Commenting on the results, Ambarish Raghuvanshi, CFO and Director, Info Edge (India) Limited said, “The results reflect the difficult business environment in hiring and real estate to some extent, cushioned by superior execution. The focus is on cost management and on organic growth in the near term. We are well placed in terms of competition and our cash position. We hope to take advantage of this.”
InfoEdge has been working to expand it horizons and provide solutions in many other domains but seems like some have to feel the heat of economic slowdown so as to help InfoEdge sustain in future.
