Only Way is Up for naukri.com
October 25, 2009 by Alice Allan
Indian online classifieds company Info Edge (India) Ltd, which owns jobs portal naukri.com along with real estate portal 99acres.com and matrimonial website jeevansathi.com, has announced its financial results for the quarter ending 30 September 2009.
Profits before tax rose by 6.3 percent to 219.45 million INR, however total income was down 10.8 percent compared to the corresponding quarter last year, coming in at 645.11 million INR. Operating income was also down 14 percent compared to last year.
Commenting on the results, director and chief financial officer Ambarish Raghuvanshi said:
“The hiring environment continues to improve, albeit gradually. The drop in topline revenues and operating income reflects the changed scenario from the last year and is in line with expectations. However, the improvement is reflected in growth based on sequential quarter.”
“For both the job market and us, we have probably bottomed out,” Raghuvanshi went on to tell Reuters India. “Over the next quarter we should see some recovery.”
naukri.com may already be seeing signs of this recovery – its latest JobSpeak Index, which measures the number of listings added to the portal each month, registered a 4.1 percent increase in September compared to August this year, according to business-standard.com.
Info Edge director and chief operating officer Hitesh Oberoi had this to say about the results of the latest Index:
“Had it not been for an early festival season we may have seen further improvement in the Index. The good news is that the IT and [Business Process Outsourcing] sectors, which are big employers especially at entry and junior levels, seem to be in positive territory after a long time.”
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