Info Edge Q1 results: Profit halves to Rs 147 crore

Internet company Info Edge on Friday said its consolidated net profit in June quarter FY24 almost halved to Rs 147.4 crore.

The company, which owns platforms like Naukri.Com, Jeevansathi etc, had posted a net profit of Rs 292.4 crore for the same period a year ago.

Revenue from operations increased 14.37 per cent to Rs 625.94 crore during the quarter from Rs 547.26 crore in the year-ago period.

"The Naukri business is facing headwinds in IT hiring, however the non-IT hiring market continues to look good. Growth in 99acres continues to be strong. In Jeevansathi, our Freemium strategy has helped us bring down our marketing spend and cut burn over the last few quarters," Info Edge Managing Director and Chief Executive Officer Hitesh Oberoi said in a statement.