Info Edge registers 47% rise in net profit for Q1
Info Edge's mainstay recruitment business vertical touched Rs 487 crore for the first quarter, while 99acres reported a revenue of Rs 98.79 crore.
Info Edge, the consumer internet company, has registered a 47% year-on-year (YoY) rise in net profit for the first quarter of the current fiscal year.
Info Edge registered a net profit of Rs 233 crore for the first quarter of FY25 compared with Rs 159 crore a year ago. The revenue from operations rose by 8.1% on a YoY basis to touch Rs 676.7 crore.
On the performance of the company for the first quarter, Info Edge CEO Hitesh Oberoi said, “Cash losses from our non-recruitment businesses have decreased by 73% to Rs 16.5 crore in Q1 FY25, driven by an 18% YoY increase in billings and controlled cost increases.”
Info Edge CEO Hitesh Oberoi
The mainstay recruitment business vertical registered a 5.6% YoY growth in revenues to touch Rs 487 crore for the first quarter. The real estate segment, 99acres, reported a revenue of Rs 98.79 crore which registered a 19.5% growth.
“Our matchmaking business, Jeevansathi, is nearing breakeven in Q1. The core recruitment business, which experienced several weak quarters last fiscal year, continued to demonstrate growth in Q1 as well,” Oberoi said.
The gross profit or EBITDA of the company came in at Rs 222 crore for the first quarter, which was a 10.4% YoY growth.
Info Edge CFO Chintan Thakkar said, “Despite the challenging environment, we generated approximately Rs 174 crore of cash from operations in Q1FY25, representing a YoY growth of over 20%.”
He also highlighted the cash balance of the company at the end of the first quarter stood at Rs 4,225 crore.
“This consistent cash flow generation highlights our company’s robust financial health and establishes a solid foundation for future investments and shareholder returns,” he remarked.
Edited by Jyoti Narayan