Jobaaj Stories
The Q3 2022 report for the company Info Edge is out, and the results seem promising for the investors.
Info Edge reported a rise of 90.7% in net profit(after tax) to Rs 133.25 crores in Q3 of FY-22 from Rs 69.87 crores in Q3 of Fy-21.
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The parent company of Naukri.com also reported an increase in the net sales of 48.1% YoY to Rs 403.26 crores and a 58% YoY increase in the billing to Rs 469.1 crores.
One of the leading internet companies of India, Info Edge is parent to many internet businesses such as Naukri.com, Jeevansathi.com, Shiksha.com, 99acres.com, etc.
“Since our IPO 15 years ago, IT Hiring has never been as bullish as it is now and it shows no signs of slowing down. Non-IT Hiring is picking up as well and so far Omicron has not impacted business,” said Hitesh Oberoi, Managing Director and Chief Executive Officer of Infoedge.
The company has made massive gains this Q3 especially in the recruitment sector.
The operating cash EBIDTA of Info Edge's recruitment solutions was Rs 254.1 crore, up approximately 112% YoY, courtesy of IIMjobs, Zwayam, and doSelect.
According to Chintan Thakkar, the CFO of InfoEdge(India), “This is the third quarter in a row that has witnessed stellar billing growth and great momentum, particularly in the Recruitment business. The sustained focus on growing efficiently and investing for future is reflected in our swelling billings and cash profits.”
For the unversed, Info Edge is an Indian pure-play internet company, holding various subsidiary companies and internet businesses. Examples of which are the famed Naukri.com, Shiksha.com, Jeevansathi.com, 99acres.com, etc.
For the complete standalone report of Info Edge Q3 FY-22. Click here.
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