Info Edge Clocks 8.9 Per Cent Growth In Q4 Operating Profit Driven By Recruitment Uptick
Date
5/16/2024 9:15:13 AM
(MENAFN- IANS) New Delhi, May 16 (IANS) Sanjeev Bikhchandani-founded Info Edge India Limited, the parent company of Naukri, on Thursday, reported 7.9 per cent growth in its operating revenue at Rs 608.3 crore for the quarter ended March 31, compared to Rs 564 crore in the same period in the last fiscal year.
The company registered a growth of 8.9 per cent in its operating profit which stood at Rs 224.8 crore in Q4 FY24, as compared to Rs 206.3 crore in Q4 FY23.
In a statement, the company said that revenue growth in the recruitment business (Naukri) was up 3.4 per cent (year-on-year).
For non-recruitment verticals like 99acres, Jeevansathi and Shiksha, the revenue growth was 22.5 per cent, 29.2 per cent and 22.2 per cent, respectively.
"I'm encouraged to see a slight rebound in our recruitment business after several weak quarters," said Hitesh Oberoi, Managing Director and CEO.
"Excellent execution in both 99acres and Jeevansathi helped reduce operational losses in these verticals from Rs 198 crore in FY23 to Rs 68 crore in FY24 with Rs 21 crore cash generation in Q4," he said.
Chintan Thakkar, Director, and CFO said cash from operations grew by 13.2 per cent year-over-year in Q4, reaching a cash balance of Rs 4,191 crore as of March 31.
The company said billing (on a standalone basis) for the quarter grew by 10.5 per cent (year-on-year) and stood at Rs 826.9 crore.
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