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India – Info Edge sales increased but profits fall in Q1

19 July 2013

Info Edge (India) Ltd (INFOE: NSI) reported net sales of INR 1,207 million (USD 20.2 million) for the quarter ending 30 June 2013. Equating to a +13.95% increase when compared with the same period last year, which reported net sales of INR 1,059 million (USD 17.7 million).

Net profit fell -7.47%, year-on-year, to INR 294 million (USD 4.9 million) from INR 317 million (USD 5.3 million) for the quarter ending 30 June 2012. Net profit rebounded, quarter-on-quarter, after a sharp drop during the Q4 2012, increasing from INR 63 million (USD 1.2 million) and equating to a rise of +363%.   

“While the operating environment continues to be difficult, we are continuing to deliver solid performance across businesses through market dominance and investment in product/technology,” said Ambarish Raghuvanshi, CFO and director of Info Edge.

Info Edge has four primary internet operations; including recruitment, real estate, matrimony, and education. Its online recruitment operation, Naukri.com, is one of India’s leading online recruitment companies and accounts for the majority of its revenue.

In trading today the share price dropped -2.9% to INR 307.50, a -8.34% fall from a year ago. Based on its share price, Info Edge (India) Ltd has a current market value of INR 33.57 billion (USD 562 million). 

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