Info Edge Q1 profit surges 75 percent to Rs 259 crore

 Internet firm Info Edge, which owns platforms like Naukri.Com, Jeevansand athi.Com, on Friday, posted 75.6 percent jump in consolidated profit at Rs 258.8 crore for the June quarter on account of all-round growth led by recruitment solutions. The company had posted a net profit of Rs 147.4 crore for April-June FY24.

Revenue from operations increased 8.1 per cent to Rs 677 crore during the quarter from Rs 626 crore a year ago. Revenue from the recruitment business grew 5.6 per cent year-on-year. Revenue from real estate vertical 99acres increased 19.5 percent, Jeevansathi (34.7 percent), and education business Shiksha (18.4 per cent).

"Cash losses from our non-recruitment businesses decreased 73 percent to Rs 16.5 crore in the first quarter of FY'25, driven by an 18 percent YoY increase in billings and controlled cost increases."Our matchmaking business, Jeevansathi, is nearing breakeven in the first quarter.

The core recruitment business...Continued to demonstrate growth in the first quarter," Info Edge MD and CEO Hitesh Oberoi said. The Info Edge board also approved the merger of three subsidiaries Axilly Labs, Diphda Internet Services, and Zwayam Digital into the company to simplify and streamline corporate structure by reducing the number of legal entities in the group.