Info Edge Reports 326% Rise in Net Profit

Info Edge (India) Limited ,( has achieved a profit after tax of INR 151.42 million compared to INR 35.56 million in corresponding quarter in 2006, representing a sharp growth of 326% in profits. At the operating level, profit after tax is INR 108.63 million which is up by 285%.

Total Income of the company in Q2 of FY 07-08 at INR 585.01 million shows an increase of 80% over corresponding quarter in 2006. Total operating income is INR 526.03 million, which is 66% higher.EBITDA at INR 220.84 million grew 227% over corresponding quarter in 2006. Operating EBITDA is 161.86 million, representing an increase of 172%.

Reinforcing its position as the pioneer and leader in the online businesses in the country, Info Edge (India) Limited today announced results for the quarter ended September 30, 2007. The company reported Net Profit after Tax of Rs. 151.42 million compared to Rs. 35.56 million for the corresponding quarter in 2006. Info Edge recorded Total income of Rs. 585.01 million compared to Rs. 325.4 million in the corresponding quarter last year.

Commenting on the results, Ambarish Raghuvanshi, CFO and Director, Info Edge (India) Limited said, “Our core recruiting business continued to grow while the newer businesses grew faster (albeit of smaller bases) despite some possible signs of a re-adjustment in hiring plans of IT services clients (as a result of the rise in the rupee/ dollar exchange rate and the sub prime mortgage issues in the US). Our profits growth look extremely good but as we have stated in the past, the lumpiness of advertising spends will cause some volatility in our earnings. We expect advertising and promotions activity to increase in the subsequent six months, therefore it will be unwise to extrapolate profits for the year from these numbers.” Also it is important to watch trends in the underlying business client segments e.g. IT services.

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