Info Edge reports 123% rise in Net profit

Info Edge (India) Ltd has achieved a profit after tax of INR 116.41 million compared to INR 52.19 million in corresponding quarter in 2006, representing a sharp growth of 123% in profits.Total Income in Q1 of FY 07-08 at INR 520.01 million shows an increase of 77% over corresponding quarter in 2006. EBITDA at INR 173.05 million grew 98% over corresponding quarter in 2006.

Reinforcing its position as the pioneer in the online business in the country, Info Edge (India) Limited today announced results for the quarter ended June 30, 2007. The company reported Net Profit after Tax of Rs.116.41 million compared to 52.19 million for the corresponding quarter in 2006. Info Edge recorded Total income of Rs. 520.01 million compared to Rs. 293.23 million in the corresponding quarter last year.

Commenting on the results, Ambarish Raghuvanshi, CFO and Director, Info Edge (India) Limited said, “Info Edge had a good quarter led by which continued to grow. However, a large increase in bottomline attributed to the other income which grew based on a higher treasury corpus through no proceeds. This will stabilize in the medium term as interest rates moderate. The company continues to invest in its new businesses – and”

Info Edge (India) Ltd (NSE: NAUKRI) is one of the largest and fastest growing internet company in India. The company owns an assortment of portals which include – India’s No. 1 job site, Naukri –- its recent foray into the Middle East market, – India’s fastest growing matrimonial site and – India’s No.1 real estate portal. Quadrangle, an offline executive search firm was acquired in the year 2000.

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