Info Edge Q3 net up 20% at Rs 38.6 cr

Info Edge, which runs leading job portal Naukri.Com, today reported 20% growth in standalone net profit at Rs 38.6 crore for the third quarter ended December 31, 2014.

The company had posted a net profit of Rs 32.2 crore in the year-ago period, it said in a statement.

Its standalone net sales grew 18% at Rs 145.7 crore for the October-December quarter this fiscal compared to Rs 123.4 crore in same quarter of 2013-14 fiscal, it added.

"The high teens growth rate in revenues of the core recruitment business in Q3 is in line with the previous quarters of the financial year and it reflects consistency, stability and inherent strength of our business," Info Edge CFO Chintan Thakkar said.

As a part of the firm's stated strategy it has stepped up the investment in 99acres.Com for a long term value creation in this vertical, he added.

"However, as a result the overall operating EBITDA has declined by about Rs 6 crore. This trend of higher investments in operating expenses of 99acres is likely to continue for the coming quarters," Thakkar said.

During the third quarter, recruitment solutions grew by 19.1%, while the real estate vertical grew by 20.5% over the corresponding quarter in FY 2013-14.

Shares of the company today declined by 3.31% to settle at Rs 809.05 apiece on BSE.