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Info Edge (India) Ltd. (NAUKRI:NSI) has reported Net Sales / Income from Operations of INR 117.07 crores ($21.8 million) for the quarter ended March 31, 2013 against INR 106.50 crores ($19.8 million) for the quarter ended March 31, 2012.
The Net Profit / (Loss) was at INR 6.34 crores ($1.2 million) for the quarter ended March 31, 2013 against INR 39.91 crores ($7.4 million) for the quarter ended March 31, 2012.
The company has reported Net Sales / Income from Operations of INR 472.32 crores ($88 million) for the year ended March 31, 2013 against INR 391.88 crores ($73 million) for the year ended March 31, 2012.
The Net Profit / (Loss) was at INR 91.59 crores ($17.1 million) for the year ended March 31, 2013 against INR 103.32 crores($19.3 million) for the year ended March 31, 2012.
Typically, Q4 is Info Edge's best quarter, since recruitment firms tend to buy recruitment packages in advance in this quarter. Net Profit was lower in the quarter by almost 50%, due to the the write down of an investment in 99Labels, and a significant increase in employee costs, advertising and promotion costs and also a decline in other income + other operating income.
The results announcement quotes Info Edge CFO Ambarish Raghuvanshi as saying that “Results can be described as trying to make the best of a difficult situation. The main objective is to continue to invest in product, technology & sales across our businesses. As a result, margins have declined in the year but this is in the long term interest of the business. As the business environment improves, businesses should be well positioned to benefit from the turnaround."
During the financial year revenue from recruitment solutions grew at 10.9% while the real estate vertical grew by 48.5%. However, the company hasn't declared the financial status of its subsidiaries 99Acres and Jeevansathi.com, which it used to.
Info Edge is described as India’s premier on-line classifieds company in recruitment, matrimony, real estate and education. The principal activity of the company is as an investment holding company. The company is primarily in the business of Internet based service delivery operating in four service verticals through Web portals: Naukri.com, Jeevansathi.com, 99acres.com, and Shiksha.com. Naukri.com provides recruitment related services. Jeevansathi.com provides matrimony related services. 99acres.com provides real estate related services. Shiksha.com provides education related services. The other activities consist of placement search services and real estate broking services. In October 2012, it acquired Toostep Consultancy Pvt Ltd.
On Monday, Info Edge India Ltd (NAUKRI:NSI) closed less than 1% down at INR 355.00, 12.31% below its 52-week high of 404.85, set on 2nd April, 2013 and -4.31%below a year ago. This means the company is valued at INR 38.98 billion ($726 million)