Info Edge Q3 profit records decent growth, 99acres revenue spikes over 30% to Rs 34 Cr

Info Edge, which runs Internet properties such as Naukri, Shiksha, 99acres and Jeevansathi and others has reported its net profit of over 13 per cent to Rs 53.3 crore for the financial year 2017.

The company has earlier posted a net profit of Rs 47.1 crore in the last fiscal.It has also reported net sales of Rs.249.1 crore during the current fiscal as compared to Rs 186 crore in the last fiscal.

Importantly, the group’s real estate platform 99acres revenue has grown 31 per cent to Rs 34.1 crore for the quarter while its flagship recruitment product Naukri registered 20 per cent growth and contributed Rs 169 crore for the aforementioned period.

Recruitment business also continues to show steady growth of billings at 13 percent for the quarter over the year-ago period.

Info Edge posted a steady growth in its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). The EBITDA amount witnessed growth of 67.5 per cent and stood at Rs  78.8 crore.

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Cashing in on its early investment, Info Edge has recently diluted $50 million worth equity in Gurugram-based ‘Unicorn’ Zomato. The group will dilute 30.91 per cent equity after $200 million infusion in the foodtech company. It’s also expected to gain many multiples on its investment in fintech platform PolicyBazaar.

The Gurugram-headquartered company is slated to go public in a year time.

Last year, Info Edge had participated in bridge rounds of its portfolio companies. It invested Rs 8 crore in On-demand beauty service provider BigStylist while the group infused Rs 8.6 crore in its subsidiary company Canvera.

It also picked up 28 per cent stake in Delhi-based edtech startup NoPaperForms for about Rs 5.66 crore.

The report was first published in ET.