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View All NewsInfo Edge posts 7.2% revenue growth in Q3
Info Edge India Ltd (NAUKRI:NSI), the Indian job board, reported revenue today from operations for the third-quarter ended 31 December 2023 of INR 5.95 billion (USD 71.7 million), an increase of 7.2% compared to the same period last year.
| (INR millions) | Q3 2024 | Q3 2023 | Change | Q3 2024 (USD millions) |
| Revenue from operations | 5,953.58 | 5,551.82 | 7.2% | 71.7 |
| Total income | 6,603.77 | 5,947.85 | 11.0% | 79.5 |
| Profit before tax | 2,836.71 | -319.83 | - | 34.1 |
| Profit for the period | 2,135.31 | -842.61 | - | 25.7 |
“Non-recruitment business verticals namely 99acres.com {the real estate vertical), Jeevansathi.com (the matrimony business), and Shiksha.com (the education business) of Info Edge continued growth trajectory and delivered a strong performance in Q3 2024 with year-on-year revenue growth of 21.8%, 23.0%, and 23.3% respectively,” the group stated. “Despite the ongoing sluggishness in the IT sector hiring, the revenues from the recruitment business grew 3.1% year on year.”
Revenue by segment
| (INR millions) | Q3 2024 | Q3 2023 | Change | Q3 2024 (USD millions) |
| Recruitment Solutions | 4,505.09 | 4,367.57 | 3.1% | 54.3 |
| 99 acres for real estate | 887.63 | 729.01 | 21.8% | 10.7 |
| Others | 560.86 | 455.24 | 23.2% | 6.7 |
| Total revenue | 5,953.58 | 5,551.82 | 7.2% | 71.7 |
Hitesh Oberoi, managing director and CEO said "Efficient execution in the 99acres and Jeevansathi businesses spurred top-line growth and helped reduce burn during the quarter. While the non-IT hiring sector remained robust, the continued slowdown in IT hiring impacted Naukrl's growth.”
Info Edge shares closed at INR 5,341.60 (USD 64.37), down 0.85% on the day and 3.67% below its 52-week high of INR 5,545.00 (USD 66.82), set on 12 February 2024. The company has a market cap of INR 697.11 billion (USD 8.40 billion).