IANS | 17 May, 2024
Sanjeev Bikhchandani-founded Info Edge India Limited, the parent
company of Naukri.com, 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.com, Jeevansathi.com and
Shiksha.com, 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.
