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The Sanjeev Bikhchandani-led company said its recruitment solutions saw billings rise over 18 percent YoY to Rs 740.3 crore, while its arm 99acres saw billings jump nearly 22 percent YoY to Rs 159.8 crore in Q4 FY25.
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Info Edge will "...commit contribution of up to Rs 1,000 crore in aggregate, directly or through wholly owned subsidiaries, subject to approval of SEBI and shareholders of the Company," the statement said.
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Shares of the Info Edge were higher by over 2.5% at 11:50am, soon after the announcement was made.
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The shares of the Sanjiv Bhikchandani-led company are currently over 57 percent higher than the 52-week-low record of Rs 4,871 apiece.
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'There was no agenda except that he wanted to learn. He struck me as humble, amiable and affable,' billionaire Sanjeev Bikhchandani wrote recalling meeting SN Subrahmanyan for the first time at L&T's corporate office in Delhi last November.
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Naukri parent Info Edge reported a robust Q2FY25, with revenue in line and EBITDA margin surpassing expectations, while analysts forecast growth as IT hiring strengthens.
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The company stated that it has expanded its AI team from just 20 members to a robust 100 over the past two to three years to boost AI-driven innovation and enhance platform performance across its key verticals, including Naukri, Jeevansaathi, 99acres and Shiksha.
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Revenue from operations reached Rs 700.82 crore, a 12 percent rise year-on-year (YoY) and up 3.5 percent sequentially from Rs 677 crore
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Expectations of the recruitment business seeing healthy demand may very well be reasonable as many of the IT companies have seen an increase in utilisation rates.
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The cash generated from operations rose by 20 percent YoY at Rs 174 crore, despite a challenging environment.
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Naukri's JobSpeak Index - an indicator of white-collar hiring - grew by 12% YoY in July, with a 11% sequential increase compared to June 2024.
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Info Edge’s registered a net profit of Rs 162 crore in Q4, compared to a loss of Rs 447 crore in the year-ago period.
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Billing growth and management commentary point to improvements in IT hiring, implying bottoming out of the challenging environment.
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Risks for Info Edge include a slow recovery in the recruitment classified vertical and poor performance of its listed investments, Nomura said
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Google had delisted over a dozen apps by prominent Indian digital companies including Info Edge, Matrimony, and Shaadi.com from Play Store on March 1.
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Info Edge continues to face obstacles in its growth journey due to the IT hiring impact on the recruitment solutions vertical which is its largest revenue and profit contributor.
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Momentum in real estate hiring augurs well for this recruitment portal
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Reduction in marketing costs and stability at Jeevansathi and Shiksha may offer some relief in the near term. However, recruitment business faces tough headwinds, and real-estate business may feel the heat of competition.
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'India is emerging as a force to reckon with at the topmost level in track and field,' Sanjeev Bikhchandani said.
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Nearly 70 percent of recruiters surveyed expect attrition rates to remain below the 15 percent level in six months.
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Oberoi said that several captives are clients of the company and if there’s growth in hiring in captives, Naukri will benefit
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Bull Sash at the breakout indicates an uptrend in Naukri
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The company management has been seeing an IT hiring slowdown and expects it to remain in the next couple of quarters.
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The company said its subsidiary Allcheckdeals India Private Ltd's (AIPL) loan of Rs 280 crore to 4B Networks is fully impaired, indicating that the chances of recovering the loan amount are unlikely.
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Group revenue growth is decelerating as IT hiring has slowed down. Although growth in non-IT hiring helped offset the impact, the outlook remains cautious
