In an interview to CNBC-TV18, Hitesh Oberoi, MD & CEO of Info Edge India spoke about the latest happenings in the company and gave his outlook for the future.
In an interview with CNBC-TV18, Chintan Thakkar, CFO of Info Edge spoke about the results and his outlook for the company.
Info Edge India is higher in trade, reacting to a good set of earnings. In an interview to CNBC-TV18, Hitesh Oberoi, CEO & MD of the company discussed the Q2 performance.
The Info Edge India stock has had a good run recently with a 44 percent gain in the last six months and up 25 percent in September alone. In an interview to CNBC-TV18, Hitesh Oberoi, CEO & MD of Info Edge spoke about the latest happenings in the company and what is making their stock tick.
Info Edge India has reported a good Q1 FY18 earnings. In an interview to CNBC-TV18, Hitesh Oberoi, MD & CEO of the company shared his reading and outlook on their Q1 numbers.
In an interview to CNBC-TV18, Hitesh Oberoi, MD & CEO of Info Edge India spoke about the latest happenings in the company.
Info Edge India reported its third quarter results for the quarter ending December 2016. The company reported net profit growth of 76.1 percent at Rs 47.1 crore vis-Ã -vis Rs 26.7 crore the same quarter last fiscal.
Reacting to the results, Hitesh Oberoi of Info Edge said 99 acres had a good quarter and Naukri.com is seeing customer growth
Chief Financial Officer, Chintan Thakkar says if the company were using old methods of accounting, the growth in Naukri.com revenues would have been around 17 percent, close to the 19 percent it has reported in the previous years.
Info Edge likes their teams and their products and wants to encourage the startups, Chintan Thakkar, Chief Financial Officer of Info Edge, told CNBC-TV18.
The company is sitting on a cash of Rs 1,100 crore and this it will use to invest in the internet space (including international) on the back of correcting valuations in private markets, says Hitesh Oberoi, MD & CEO, Info Edge.
The flux in the real estate sector and increased competition from rivals has resulted in slowing growth for real estate portal 99acres.com, even as business continues to be vibrant for jobs portal Naukri.com, says Hitesh Oberoi, CEO and MD, Info Edge.
Chintan Thakkar, CFO of Info Edge says the real estate market is very dull and the new project launches are very minimal.
Chintan Thakkar, CFO, of Info Edge says the real estate market has off late been laden with factors like low demand and high competitiveness.
Chintan Thakkar, CFO of Info Edge says the company will continue to invest in the realty as rentals, particularly in some cities, is doing well despite the shrinking market.
In an interview with CNBC-TV18, Chintan Thakkar, CFO of Info Edge said the company will continue to invest in 99acres despite the slow revenue growth in the June quarter.
Oberoi said the real estate market remained sluggish, and the break even at operating level for 99acres.com was a long way off.
Revenues in the flagship website Naukri.com grew 17 percent, while those in 99acres.com increased 20 percent
Info Edge also owns portals like Naukri.com, Jeevansathi.com and shiksha.com.
The company reported a quarter-on-quarter net profit at of 33.2 crore versus Rs 39.8 crore in the previous quarter.
Hitesh Oberoi, CEO and MD, Info Edge says the company keeps scouting the market for acquisitions all the time considering real estate â€“ the online space â€“ is such a hot sector. According to him, real estate will be a good sector for the medium term, even if it means clocking losses in the short term.
Info Edge is an on-line classifieds company in recruitment, matrimony, real estate and education. It owns portals like Naukri.com and 99acres.com.
Info Edge which posted flat revenues in the third quarter is hopeful that with an improvement in economic activity and hiring, their principal business, Naukri will grow at slightly rapid rate.
Info Edge also owns job portal naukri.com and has seen a slight improvement in naukri‘s performance in the last few months.
Speaking to CNBC-TV18 on its Q2 results, Hitesh Oberoi, chief executive officer and managing director, Info Edge says the company is likely to do well if the country continues to grow positively. â€œIf the economy starts improving, if the market for jobs in real estate starts looking up, then our growth rate should improve from here on,â€ he adds.