Info Edge, the online conglomerate owning Naukri, has reported a 8 per cent decline in its Revenues at Rs. 52.9 Crores v/s Rs 57.7 Crores in corresponding quarter. The Net profit too registered a moderate decline and came in at Rs 13.3 Crores compared to Rs 13.8 Crores Q-o-Q.
The YoY revenues took a double digit hit and as expected is showing signs of lesser decline in coming quarters. The company although expects upcoming Q2 to be challenging as operating PAT margin in this quarter was down by 1.5%.
Key business Indicators:
Info edge has conveyed that Hiring activities has seen pick up since June and may thus accrue benefits to its job portals which currently contributes 84% to top-line and other (99acre.com, Jeevansathi and Shiksha) contributes 16 per cent of total revenues.
Naukri.com had 17.6 million resumes till June-end and is seeing net addition of 10,000 resumes daily. The market share of Naukri in online recruitment space is down to 25 Per cent from 27 Per cent.
99Acres:
Net sales for real estate portal grew by 15 per cent YoY and suffered a loss of 1.6 Crore in current quarter although separate revenue figures were not available.
Jeevansathi:
Net sales at matrimonial portal was up 20 per cent YoY. It currently has 14 offline centre till june end and is seeing around 2400 registrations comes every day. The company expects the portal to break even by next quarter.
Shiksha:
The education portal is currently getting 15000 visitors a day and is capturing traction in Online education space in India.
The online space despite being a growth trajectory is seeing tough times for online behemoths as monetization strategies comes to a halt in turbulent times. Info edge fortunes being closely tied to recruitment space, its performance largely depends on the economic conditions and proper diversifying in future may allow it to immune itself from such turmoils.
