In an interview to CNBC-TV18, Ambarish Raghuvanshi, CFO of Info Edge spoke about the company‘s Q1 numbers and future plans. He said the company will be investing in advertizing for 99acres and Shiksha this quarter.
"As business confidence levels across corporate India have weakened, hiring has definitely taken a hit across sectors. That means Naukari's revenues have decelerated," Raghuvanshi, CFO of Info Edge told CNBC-TV18 in an interview.
Info Edge's main source of revenue continues to come from Naukri.com, even though other businesses like other businesses like Jeevansathi.com, the Candidate Services in Naukri.com or the Shiksha.com business are growing fast too.
UBS has given a buy call on Info Edge, with a 12 month price target of Rs 475. Its stock price has de-rated due to a slowdown in hiring activity. The company gets around 80 percent of its revenue from the recruitment business, primarily from naukri.com.
Hitesh Oberoi, CEO & MD, Info Edge explains on CNBC-TV18, post announcement of results, that the company is adequately cushion by cash reserves of close to Rs 500 crore and hence there arose no need to raise funds. Oberoi adds that the company‘s realty arm 99acres.com and education portal Shiksha.com have performed well
Ambaresh Raghuvanshi, CFO, Info Edge expects the company‘s performance to improve from Q4 and added that the hiring environment has been weak in the second quarter. Besides, he does not see much pressure on pricing at the moment.
The economy is going through a bad phase and companies are hardly recruiting. Naukri.com, a leading recruitment website belongs to the Info Edge group and Hitesh Oberoi, CEO & MD of Info Edge believes companies are cautious about hiring at this point.
Info Edge saw an extraordinary performance in Q4, overriding estimates and clocking almost a 50% rise in profits.
In an interview to CNBC-TV18, Ambaresh Raghuvanshi, chief financial officer of Info Edge says, the hiring environment continues to be weaker. “The recruiting market is definitely a little weaker than it was same time last year. It's definitely weaker than a couple of quarters back,” he adds.
LinkedIn has not been impacting our revenues in any way, said Hitesh Oberoi, chief executive officer and managing director of Info Edge.
In an interview with CNBC-TV18, Hitesh Oberoi, CEO and MD, Info Edge says, the company’s operating profit after tax (PAT) is up 30% over last year. “If the economy stays good, we are hoping that we will do more than 20% next year as well in terms of top-line growth in Naukri,” he adds.
Hitesh Oberoi, CEO and MD of Info Edge, in an interview with CNBC-TV18’s Anuj Singhal and Latha Venkatesh, spoke about the recent happenings in his company and the road ahead.
In an interview with CNBC-TV18, Hitesh Oberoi, MD and CEO, Info Edge, spoke about the results and his outlook for the company.