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View All NewsIndia – Info Edge reports revenue up 76.5% in fiscal second quarter
Info Edge (India) Ltd. (NAUKRI:NSI) recently reported total revenue rose 76.5% year over year to INR 7.27 billion (US 89.0 million) in its fiscal second quarter ended 30 September. Revenue for the quarter included the acquired businesses of recruitment software firm Zwayam and assessment platform DoSelect.
“... recruitment had another great quarter,” CEO and Managing Director Hitesh Oberoi said. “The hiring market for IT professionals is slowly returning to normal. However, non-IT market continues to be strong.”
| (INR millions) | 3 months ended 30 Sept. 2022 | 3 months ended 30 Sept. 2021 | % change | 3 months ended 30 Sept. 2022 (USD millions) |
| Revenue from operations | 6,041.3 | 3,660.6 | 65.0% | 74.0 |
| Other income | 1,226.9 | 456.8 | 168.6% | 15.0 |
| Total revenue | 7,268.1 | 4,117.4 | 76.5% | 89.0 |
| Net profit | 939.0 | 73,722.9 | -98.7% | 11.5 |
The company’s recruitment solutions segment saw revenue rise 59.5% year over year. Info Edge’s recruitment solutions business included the job board Naukri.com.
Info Edge’s 99acres segment includes the 99acres.com real estate website and the “other” segments include Jeevansathi.com for matrimony-related services and Shiksha.com for education-related services.
Revenue by segment
| (INR millions) | 3 months ended 30 Sept. 2022 | 3 months ended 30 Sept. 2021 | % change | 3 months ended 30 Sept. 2022 (USD millions) |
| Recruitment solutions | 4,358.2 | 2,732.6 | 59.5% | 53.4 |
| 99acres for real estate | 697.1 | 482.7 | 44.4% | 8.5 |
| Other | 985.9 | 445.3 | 121.4% | 12.1 |
Info Edge also announced it recently increased its shareholding in Coding Ninjas to 51% from 26.1% providing majority control. Coding Ninjas teaches programming courses and has an ecosystem comprising 40,000+ students and alumni, 1,000+ campus ambassadors and 2,000+ teaching assistants. The investment is aimed at helping transform Naukri from a jobs website to a career platform.
Share price and market cap
Shares in Info Edge closed down 5.79% to INR 3,907.55 (USD 48.02) Thursday in India; they were 17.95% above their 52-week low, according to FT.com. The company had a market cap of INR 534.11 billion (USD 6.56 billion).