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.
After witnessing an uptick in the past three months, the hiring activity in March saw a minor dip of 1.1 per cent owing to the ongoing appraisal season, according to leading job portal Naukri.com.
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.
Internet firm Info Edge, which owns job portal Naukri.com, today posted a jump of 18 percent in profit after tax at Rs 33.3 crore for the three months ended September 2012.