Info Edge posts Rs-38 cr pre-tax loss in Q3, income rises 11% to Rs 359 cr

Internet company Info Edge (India) on Wednesday posted a pre-tax loss of Rs 38 crore in the December quarter. The company which runs several internet businesses such as Naukri.com, Jeevansathi.com, and 99acres.com had registered a pre-tax profit of Rs 364.2 crore for the corresponding quarter of the previous financial year.

The Noida-headquartered company posted a consolidated loss of Rs 62.1 crore for the quarter as compared to a consolidated profit of Rs 330 crore in the year-ago period, Info Edge said in a filing to BSE. The consolidated income, however, increased 11 per cent y-o-y (year-on-year) at Rs 359.7 core.

“We are pleased to witness yet another robust quarterly result containing double digit growth in all key metrics such as billing, revenue and operating EBITDA on YoY basis. We continue to leverage our strong cash surplus position to invest in technology and branding,” said Chintan Thakkar, the company’s CFO.

Segment-wise, it posted a 16 per cent rise in revenue on a y-o-y basis both for recruitment solutions and 99 acres segments.

The company has set up an alternative investment fund named Info Edge Venture Fund (IEVF) to invest in tech and tech-enabled entities. This week, the company announced making an investment of about Rs 37.10 crore in Sunrise Mentors, which operates e-learning platform, Coding Ninjas.