Info Edge Q2 net up 326% at Rs 15cr

Info Edge (India), promoter of websites like Naukri.com and Jeevansathi.com, reported a 326% jump in net profit at Rs 15.14 crore for its quarter ended September 2007 (Q2FY08) when compared with Rs 3.55 crore for Q2FY07.

Revenue for the quarter was up 80% to Rs 58.50 crore from Rs 32.54 crore in Q2FY07.

EBITDA for the quarter grew 227% (y-o-y) to Rs 22.08 crore.

Ambarish Raghuvanshi, CFO & director, Info Edge (India) said: "Our core recruiting business continued to grow while the newer businesses grew faster (albeit of smaller bases) despite some possible signs of a re-adjustment in hiring plans of IT services clients (as a result of the rise in the rupee/dollar exchange rate and the sub prime mortgage issues in the US."

Sequentially, the company reported 30% growth in profit from Rs 11.64 crore in the previous quarter.

Presenting a cautious future outlook Raghuvanshi said, "Our profits growth look extremely good but as we have stated in the past, the lumpiness of advertising spends will cause some volatility in our earnings. We expect advertising and promotions activity to increase in the subsequent six months, therefore it will be unwise to extrapolate profits for the year from these numbers."

The new businesses Jeevansathi.com and 99acres.com continue to be in investment mode incurring losses.