Info Edge net profit more than doubles to Rs 240 cr in Jul-Sep qtr

Internet company Info Edge on Tuesday posted a two-fold jump in consolidated net profit to Rs 240 crore for the September quarter.

The company had posted net profit of about Rs 94 crore in the year-ago period, according to a company's regulatory filing on Tuesday.

The consolidated revenue from operations of the company grew 3.59 per cent to Rs 625.84 crore in the second quarter of the current fiscal from Rs 604 crore it posted a year ago.

The real estate vertical of Info Edge, 99acres.com, continued its growth trend for the past few quarters and delivered a strong performance in the September quarter with a revenue growth of 25.2 per cent.

The company's revenues in the recruitment business grew 9.1 per cent year-on-year during the quarter.

"Good execution in 99acres and Jeevansathi business helped reduce burn in these verticals substantially during the quarter. The non-IT hiring market continued to be strong but a slowdown in IT hiring dragged down Naukri growth," Info Edge Managing Director and Chief Executive Officer Hitesh Oberoi said in a statement.