Online classified business player Info Edge recorded a 12 percent sequential rise in billings from its recruitment business, reaching Rs 492 crore in the quarter ended September 30 (Q2FY25). A substantial portion of its staffing business comes from recruitment in the information technology (IT) sector, with the latest figures reflecting growing demand in the space.
Info Edge owns and operates recruitment brands such as naukri.com, iimjobs.com, firstnaukri.com, etc.
These numbers are being released ahead of the official announcement of the financial results for the said period, the company said in a release.
Moneycontrol, on October 7, reported that Indian tech companies and start-ups are back on a talent hunt after nearly 12-18 months of freeze on hiring following mass layoffs in a difficult business environment. Info Edge's CEO and MD Hitesh Oberoi told Moneycontrol that hiring is back and campus hiring will pick up, too.
"IT companies had picked up big benches in the last few years. Now, with utilisation rates back to the pre-Covid levels, they have started hiring again. The hiring activity looks way better compared to the last two-four quarters,” Oberoi explained.
Overall billings increased by over 14 percent to Rs 650 crore for the July-September period. Billings of The company's real estate platform, 99acres, increased by 16 percent quarter-on-quarter to Rs 107 crore.
In H1FY25, Info Edge recorded a jump of over 12 percent to Rs 1,229 crore.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
