InfoEdge has announced it’s quarterly results and here are few highlights:
For Year Ended March 31, 2009:
- Net Profit of Rs.596.86 million compared to Rs. 554.88 million in FY 07-08, representing a growth of 7.57%.
- Total Income of FY 08-09 at Rs. 2737.96 million showed an increase of 14.24 % over
previous year.
For the quarter ending March 2009, results are impacted by recession:
- Total Income of Q4 of FY 08-09 at Rs. 641.58 million showed a decline of 7.29% over corresponding quarter in the previous year.
- The company achieved a Net Profit of Rs.138.3 million in Q4 of FY 08-09 compared to Rs. 156.1 million in the corresponding quarter of FY 07-08, representing a decline of 11.4%.
- Other income at Rs.64.56 million is comparatively high by 53.5% in Qtr ending March 09 as a result of profit on sale of investment in mutual funds booked in the quarter.
Portal Performance:
- 99acres.com and Jeevansathi.com have achieved a growth in Revenues at 53.98% and 31.49% respectively
- Verticals apart from Naukri.com (including 99acres.com, Jeevansathi.com) incurred a loss of Rs.58.02 million in Q4 of FY 2008-09 as compared to Rs.78.72 million for corresponding quarter in FY 2007-08, at the EBITDA level.
This is representative of the current market scenario and the real picture will emerge in the next quarter – when companies hopefully will start recruiting.
- InfoEdge slashed it’s advertising budget almost by 45% (as compared to Q4 2008)- hence reduction in cost (also, the company cut down on employee bonus).
- Might expect some downsizing – company hasn’t been able to control employee cost and pressure is obviously there to control sales/employee number.
Moreover, real estate and recruitment are the topmost hit sectors – so expect a slow recovery.
Download the financial report from here (pdf) – summary here (pdf).
What’s your take on InfoEdge’s growth plans? Should they focus on other segments as well?
Also see: Citigroup has bought Info Edge shares worth Rs 23.82 cr.
