Naukri.com parent Info Edge reports Rs 232 crore profit in Q1FY25

Info Edge, which owns and operates internet companies like AmbitionBox, Naukri, Axilly Labs, and Jeevanshathi, has reported a notable rise in its financial performance for the first quarter of FY25. 

The company posted a profit after tax of Rs 232 crore, marking an increase of 16.45% compared to Rs 200 crore reported in Q1FY24. The company's operating profit margins showed a slight improvement, standing at 35.6%.

Revenue from operations also saw a 9.3% growth, reaching Rs 638.9 crore on a standalone basis for the quarter ended June 30, 2024, compared to Rs 584.3 crore in the corresponding quarter of the previous fiscal

Strong performance across business verticals

The company's recruitment business continues to perform robustly, generating substantial revenue.

Naukri's contribution remains significant, with nearly Rs 1,000 crore in EBITDA annually.

Non-recruitment verticals, including the real estate platform 99acres, matchmaking service Jeevansathi, and education platform Shiksha, also showed strong revenue growth. Notably, Jeevansathi is nearing breakeven, which is a positive development for the company.

Cash flow and financial health

Info Edge has demonstrated strong cash flow generation, with cash generated from operations increasing by 20.2% year-on-year to Rs 173.9 crore. 

The company's cash reserves stand at Rs 4,255 crore as of June 30, 2024. 

The company maintained its operating profit margins at 35.6% of revenue and registered a growth of 8.8% in its operating profit, which stood at Rs 227.3 crore on a standalone basis in Q1FY25 as compared to Rs 208.9 crore in Q1FY24

Hitesh Oberoi, Managing Director and Chief Executive Officer of Info Edge, said, “Cash losses from our non-recruitment businesses have decreased by 73% to Rs. 16.5 crores in Q1FY25, driven by an 18% YoY increase in billings and controlled cost increases. Our matchmaking business, Jeevansathi, is nearing breakeven in Q1. The core recruitment business, which experienced several weak quarters last fiscal year, continued to demonstrate growth in Q1 as well.”

Appointing Aayush Rathi as Senior VP

In addition to its financial performance, Info Edge announced a key leadership appointment. Aayush Rathi has been appointed as Senior Vice President—Revenue Growth Strategy for Naukri and Senior Management Personnel of the company, effective August 12, 2024. 

Chintan Thakkar, Director and Chief Financial Officer, said, “Despite the challenging environment, we generated approximately Rs. 174 crore of cash from operations in Q1FY25, representing a YoY growth of over 20%. As of June 30th, 2024, our cash balance stood at Rs. 4,255 crore, underscoring the strength of our balance sheet. This consistent cash flow generation highlights our company's robust financial health and establishes a solid foundation for future investments and shareholder returns.”