Info Edge Q2 net up 2% to Rs 34 cr

Info Edge, which owns online job portal Naukri, today reported two% increase in net profit at Rs 33.91 crore for the July-September quarter of 2015-16.

The firm had posted a net profit of Rs 33.22 crore in the year-ago period, it said in a statement.

Net sales rose by 18% to Rs 174.10 crore in the said quarter from Rs 147.65 crore in the year-ago period.

"Fifty five% EBITDA margin and 20% y-o-y sales growth in Recruitment Solution segment is very encouraging. Naukri businessprovides anunmatchable advantage to invest, build and growother internet businesses particularly, 99acres.com. Overall as a company we are creating long term value by growing revenue and investing at the same time," Info Edge CFO Chintan Thakkar said.

During the quarter, recruitment solutions grew by about 20%, while the real estate vertical grew by 13% over the corresponding quarter in FY 2014-15.

"99acres continuing investment in product, technology, operation and marketing has resulted in EBITDA loss of Rs 25.5 crore for the segment. The overall impact of this is that the PAT is 33.9 crore against previous year PAT of 33.2 crore," the statement said.

Its board declared an interim dividend of Re 1 per share (on the face value of Rs 10 per share) for the financial year 2015-16.

Shares of the company closed at Rs 707.90 apiece, down 3.68% from previous close on the BSE.