The company achieved a profit after tax of Rs. 130.91 million compared to Rs. 81.58 million in corresponding quarter in FY 06-07, representing a growth of 60% in profits. At the operating level, profit after tax is Rs. 87.83 million which is up by 32%.
Total Income in Q3 of FY 07-08 at Rs. 601.84 million shows an increase of 59% over corresponding quarter in FY 06-07. Total operating income is Rs. 547.94 million, which is 51% higher.
EBITDA at Rs.208.22 million grew 66% compared to Rs. 154.32 million in corresponding quarter in FY 06-07, representing an increase of 32%.
Info Edge (India) Limited today announced results for the quarter ended December 31, 2007. The company reported Net Profit after Tax of Rs. 130.91 million compared to Rs. 81.58 million for the corresponding quarter in FY 06-07. Info Edge recorded Total income of Rs. 601.84 million compared to Rs. 379.26 million in the corresponding quarter last year.
“We continue to witness growth in sales and profits. The fact that profit growth has come in at this level in spite of our new businesses absorbing cash is a good sign. We continue to watch the situation on the pressure on IT industry hiring, high interest rates, US dollar depreciation and a potential recession in US.” Ambarish Raghuvanshi, CFO and Director, Info Edge (India) Limited said .
Total Income – Increased by 59% at Rs. 601.84 million as compared to Q3 of FY 06-07.EBITDA – Increased by 66% at Rs. 208.21 million as compared to the corresponding quarter in FY 06-07. The Jeevansaathi.com business has broken even in this quarter but will witness investment in growth initiatives in the coming quarters, and the 99acres.com business continues to be in an investment mode incurring losses.
Total Expense including Interest & Depreciation – Increased by 58% to Rs. 407.7 million as compared to the corresponding quarter in FY 06-07.Tax Expense – There is a tax charge for earlier years reported in current quarter amounting to Rs. 10.81 million. Based on prudent norms we have provided for the same in the current quarter; however the company is planning to appeal against the additional tax charge.
Info Edge (India) Ltd (NSE: NAUKRI) is the largest and fastest growing internet company, in India. The company owns an assortment of portals which include Naukri.com – India’s No. 1 job site, Naukri Gulf.com — it’s more recent foray into the Middle East market, Jeevansathi.com – India’s fastest growing matrimonial site and 99acres.com – India’s No.1 real estate portal. Quadrangle, an offline executive search firm was acquired in the year 2000. Info Edge recently launched asknaukri.com, India’s first Career Guidance website and Brijj.com, a professional networking site. Last quarter it announced its intentions to enter the educational online classifieds business through Shiksha.com.
Info Edge has ventured into newer businesses and territories and attracted investments from leading venture capitalists. Formerly an ICICI Ventures investee company, Kleiner, Perkins, Caufield & Byers and Sherpalo Ventures invested in the company in 2006. Info Edge raised Rs. 1,703 million by way of an IPO in November 2006.
With its headquarters in Noida (NCR), the company, as on December 31, 2007, employed about 1500 people and had 61offices in 41 cities in India and overseas offices in Dubai and Bahrain catering to the Middle East market.