Info Edge Q4 net profit dips 11%

Info Edge, owner of job portal Naukri.Com, today posted a 11.4 per cent decline in net profit at Rs 13.83 crore for the fourth quarter of 2008-09, hit by tough conditions in jobs and real estate sectors.     

Info Edge had reported net profit of Rs 15.61 crore in the fourth quarter of previous fiscal. Total income of the company decreased 7.29 per cent to Rs 64.15 crore in Q4 of FY08-09 over year-ago period, a company statement said.     

"Results reflect the difficult business environment in hiring and real estate to some extent, cushioned by superior execution. The focus is on cost management and on organic growth in the near term," Info Edge (India) CFO and Director Ambarish Raghuvanshi said.      However, for the entire fiscal ended March 31 2009, Info Edge reported a 7.57 per cent increase in net profit at Rs 59.68 crore as compared to Rs 55.48 crore in FY 2007-08.     

Total income increased by 14.24 per cent to Rs 245.16 crore in financial year 2008-09 as compared to Rs 218.93 crore in the previous fiscal, the statement added. "We have cash/ cash equivalents of about Rs 330 crore which is at a comfortable level and we are not planning to raise more funds," Raghuvanshi added.     

Apart from Naukri.Com, company's other verticals including 99acres.Com, Jeevansathi.Com incurred a loss of Rs 5.80 crore in the fourth quarter.