The company registered a growth of 37.2% in its operating profit which stood at Rs 208.9 crore on standalone basis for the quarter ended Jun 30, 2023 as compared to a profit of Rs 152.3 crore in the same quarter of the previous fiscal.

The standalone business generated cash from operation of Rs 144.6 croreo in Q1 FY24.

The revenues for the quarter in the recruitment business grew 15.3% Year on year while the revenues in real estate business grew 24.6% YOY.

Billing for the quarter dropped marginally by 0.2% year on year and stood at Rs 523 crore.

Hitesh Oberoi, managing director and chief executive officer said “The Naukri business is facing headwinds in IT Hiring, however the Non IT Hiring market continues to look good. Growth in 99acres continues to be strong. In Jeevansathi our Freemium strategy has helped us bring down our marketing spend and cut burn over the last few quarters.”

Chintan Thakkar, CFO and whole time director commented “Despite the challenging environment in IT recruitment, growth in Billings and rationalization of spending in 99acres, Shiksha and Jeevansathi business contributed to generating approximately Rs 145 crore of cash from operations in Q1'24. ”

Info Edge (India) is among the leading internet companies in India. The company runs leading internet businesses viz. Naukri.com, Jeevansathi.com, 99acres.com and Shiksha.com. The company also owns Quadrangle and Naukri Gulf. It has made significant strategic investments such as zomato.com, policybazaar.com and happily unmarried.com etc.

The scrip declined 4.20% to Rs 4,455 on the BSE.