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India – Info Edge Q4 revenue rises and net profit positive, acquires Highorbit Careers

28 May 2019

Info Edge India Ltd (NAUKRI:NSI), the Indian job board, reported revenue from operations for the third-quarter ended 31 March 2019 of INR 2.92 billion (USD 41.9 million), up 21.6% compared to the same period last year.

(INR millions) Q4 2019 Q4 2018 Change Q4 2019 (USD millions)
Net Revenue from Operations 2,926.5 2,406.6 21.6% 41.9
Total Income 3,230.8 2,631.8 22.7% 46.3
Net Profit 663.1 -137.5 N/A 9.5

Info Edge, along with its subsidiary real estate portal 99acres.com, also announced today that it agreed to acquire Highorbit Careers Pvt. Ltd for INR 808.2 million (USD 11.5 million). The company owns job portals iimjobs.com which specialises in Banking & Finance, Consulting, Research & Analytics, Sales & Marketing, HR, IT and Operations roles, and hirist.com which specialises in IT roles

“The company has agreed to acquire 100% of the share capital on a fully diluted basis. Post the completion of the acquisition, iimjobs will become a wholly-owned subsidiary of the company,” Info Edge stated.

The transaction is subject to the fulfilment of certain conditions and is expected to close by 30 June 2019.

“We believe the multi-brand approach will extend and expand the value chain in the recruitment space for Naukri.com,” Info Edge CFO Chintan Thakkar said.

Info Edge runs job site Naukri.com as well as 99acres.com. The company also runs Jeevansathi.com, a matrimonial portal, Shiksha.com an education portal as well as Quadrangle, an offline executive search business, and Naukri Gulf.

Segment by Revenue

(INR millions) Q4 2019 Q4 2018 Change Q4 2019 (USD millions)
Recruitment Solutions 2,073.5 1,751.8 18.3% 29.7
99 acres for real estate 544.1 372.8 45.9% 7.8
Others 308.8 281.9 9.5% 4.4
Total Revenue 2,926.5 2,406.6 21.6% 41.9

The group also published its full year results.

(INR millions) FY 2019 FY 2018 Change FY 2019 (USD millions)
Net Revenue from Operations 10,982.5 9,154.9 19.9% 157.4
Total Income 1,111.5 970.8 14.5% 15.9
Net Profit 12,094.1 10,125.8 19.4% 173.4

As of last trade Info Edge traded at INR 1,924.95 (USD 27.61), down 0.26% on the day and 6.40% below its 52-week high of INR 2,056.60 (USD 29.50), set on 24 April 2019. Based on its current share price the company has a market value of INR 235.47 billion (USD 3.37 billion).


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