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View All NewsIndia – Info Edge second quarter revenue boosted by Recruitment Solutions
Info Edge India Ltd (NAUKRI:NSI), the Indian job board, reported unaudited consolidated results on Friday with revenue from operations for the second-quarter ended 30 September 2022 of INR 6.04 billion (USD 74.5 million), up 65% compared to the same period last year. Recruitment Solutions rose by 59%.
| (INR millions) | Q2 2023 | Q2 2022 | Change | Q2 2023 (USD millions) |
| Revenue from Operations | 6,041 | 3,660 | 65.0% | 74.5 |
| Total Income | 7,268 | 4,117 | 76.5% | 89.6 |
| Profit for the Period | 939 | 73,722 | -98.7% | 11.5 |
The group said its net profit for the previous year is not comparable with this year’s net profit figures as the company had an exceptional gain of INR 82.69 billion (USD 1.0 billion) in the year-ago quarter due to the public listing of Zomato, in which it holds a considerable stake.
Revenue by segment
| (INR millions) | Q2 2023 | Q2 2022 | Change | Q2 2022 (USD millions) |
| Recruitment Solutions | 4,358 | 2,732 | 59% | 53.7 |
| 99 acres for real estate | 697 | 482.7 | 44% | 8.6 |
| Others | 985 | 804 | 22% | 12.1 |
“The recruitment had another great quarter. The hiring market for IT professionals is slowly returning to normal. However Non IT market continues to be strong” Hitesh Oberoi, Managing Director and Chief Executive Officer, Info Edge, said.
“The recruitment business continues to show strong momentum in billing and cash,” Chintan Thakkar, Whole Time Director and Chief Financial Officer, Info Edge, said.
Quess Corp and TeamLease also recently reported their quarterly revenue figures with both firms reporting revenue growth.
Info Edge shares closed on Friday at INR 4,100.20 (USD 50.55), up 7.47% on the day. The company has a market cap of INR 562.27 billion (USD 6.93 billion).