Info Edge quarterly profit climbs 48% to Rs 26 cr

Leading Internet firm Info Edge today posted a 48% jump in profit at Rs 25.61 crore for three months ended June, mainly driven by higher business growth at job portal Naukri.Com.

The entity, which owns various portals including Naukri.Com and 99acres.Com, had a profit of Rs 17.26 crore in the year-ago period.

Info Edge's net sales rose to Rs 86.65 crore in the first quarter of current fiscal from Rs 65.88 crore in the same period a year ago.

Good hiring activities helped the business growth of Naukri.Com, which accounts for majority of Info Edge's revenues.

"The company's bottom line is growing at a faster rate than top line," Info Edge (India) Ltd's CFO and Director Ambarish Raghuvanshi told PTI.

In the June quarter, the company's recruitment solutions grew nearly 28% while the real estate vertical saw a growth of over 52%.

"We continue to see high operating leverage in the recruitment business through growth and leadership position.

"The outlook in the medium term continues to be positive although there could be near term volatility due to macro concerns which may impact the main lines of the company's business," Raghuvanshi noted.

Shares of Info Edge was up 1.23% at Rs 733 in late afternoon trade on the Bombay Stock Exchange.