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View All NewsIndia – Info Edge third quarter revenue rises 48% boosted by recruitment solutions
Info Edge India Ltd (NAUKRI:NSI), the Indian job board, reported revenue Friday from operations for the third-quarter ended 31 December 2021 of INR 4.03 billion (USD 53.7 million), an increase of 48.1% compared to the same period last year.
| (INR millions) | Q3 2022 | Q3 2021 | Change | Q3 2022 (USD millions) |
| Revenue from Operations | 4,032.6 | 2,722.9 | 48.1% | 53.7 |
| Total Income | 4,458.2 | 3,038.7 | 32.7% | 59.4 |
| Profit for the Period | 3,291.0 | 698.7 | -371.0% | 43.8 |
Revenue by segment
| (INR millions) | Q3 2022 | Q3 2021 | Change | Q3 2022 (USD millions) |
| Recruitment Solutions | 2,985.2 | 1,895.4 | 57.5% | 39.8 |
| 99 acres for real estate | 586.1 | 448.6 | 30.6% | 7.8 |
| Others | 461.3 | 378.9 | 21.7% | 6.1 |
| Total Revenue | 4,032.6 | 2,722.9 | 48.1% | 53.7 |
Info Edge added that billing was up 58% over the year.
Cash EBIDTA including acquired operating businesses (IIMjobs, Zwayam and DoSelect) was up 113% over the year.
“Since our IPO 15 years ago, IT Hiring has never been as bullish as it is now and it shows no signs of slowing down. Non IT Hiring is picking up as well and so far Omicron has not impacted business,” Hitesh Oberoi, Managing Director and Chief Executive Officer, Info Edge, said.
“This is the third quarter in a row that has witnessed stellar billing growth and great momentum, particularly in the Recruitment business. The sustained focus on growing efficiently and investing for future is reflected in our swelling billings and cash profits,” Chintan Thakkar, Whole Time Director and Chief Financial Officer, Info Edge, said.
Indian staffing rival TeamLease Services reported revenue from operations of INR 17.62 billion (USD 235.5 million) for the third quarter ended 31 December 2021, an increase of 38.1% compared to the same period last year.
Shares in Info Edge on Friday closed at INR 4,406.10 (USD 58.75), up 0.27% on the day and 9.50% above its 52-week low of INR 4,023.90 (USD 53.65), set on 30 March 2021. The company has a market cap of INR 566.95 billion (USD 7.56 billion).