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Sequentially, the bottomline rose nearly 12%, and the topline increased by 4%.
The recruitment business revenue during the quarter grew 15.3% on year, while that of the real estate business increased nearly 26%.
Billing for the quarter dropped marginally by 0.2% on year to Rs 523 crore, the company said in a release.
The company’s operating profit grew sharply by 37.2% on year to Rs 209 crore. The standalone business generated cash from operations of Rs 144.6 crore for the quarter.
“The Naukri business is facing headwinds in IT hiring, however, the non-IT hiring market continues to look good,” said Hitesh Oberoi, managing director and chief executive officer.
“Growth in 99acres continues to be strong. In Jeevansathi, our Freemium strategy has helped us bring down our marketing spend and cut (cash) burn over the last few quarters,” Oberoi said. Despite the challenging environment in IT recruitment, the growth in billings and rationalization of spending in 99acres, Shiksha and Jeevansathi businesses helped generate cash from operations in the quarter, said Chintan Thakkar, CFO and whole-time director.
Other income for the quarter rose to Rs 58 crore from Rs 42 crore a year ago.
On the cost front, staff cost rose nearly 10% on year to Rs 246 crore, while advertising and promotional spend declined 22.3% on year to Rs 68 crore.
Tax outgo for the quarter was higher at Rs 67 crore, compared to Rs 46 crore a year ago.
Post the earnings, shares of Info Edge were trading 4% down on the National Stock Exchange at Rs 4,458.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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