Earnings: Naukri’s Q2 Profit At Rs. 15.14 Crores; 99Acres May Break Even Early
By Nikhil Pahwa - Mon 29 Oct 2007 07:33 AM PST
Info Edge (BOM: 532777) (the Naukri group) has reported a net profit of Rs. 15.14 crores for the second quarter (ending September 30th 2007), up from Rs. 3.55 lakh crores for the same quarter last year. Revenues were at Rs. 58.5 crores (net sales of Rs. 52.6 crores), up from Rs. 32.5 crores (net sales of Rs. 31.74 crores) for Q206. The company’s earnings was Rs. 5.55 per share, up from Rs. 1.62 per share last year. Advertising and promotional expenses amounted to Rs. 10.81 crores for the quarter, which Info Edge MD Sanjeev Bikhchandani says were lower than budgeted due to drop in advertising from competitors.
From the conference call:
Naukri.com: Registered user base of over 11 million, adding around 1 million resumes per quarter. 30,000 resumes are being updated each day; half have been active in the last 12 months. Recruitment accounts for 89 percent of operating revenue for this quarter, down from around 91 percent in the last fiscal. Bikhchandani estimates (quoting Comscore) that they have marketshare of around 50 percent, and suspects revenues mirror this. The company might intensify retail selling and target smaller IT customers in the coming months.
99Acres.com and Jeevansathi.com (JS): The company lost around Rs. 2.5 crores at the EBITDA level in new businesses, down from around Rs. 3.8 crores in Q1. 99Acres brought in more revenues than expected - around 3 times the amount for the same quarter last year; the site may break even before the estimate of March 2009. Around 30 percent of the 56000 listings on 99Acres are paid listings. JS adds 2700 profiles added per day. Bikhchandani said that average billing per profile on JS was Rs. 1500, and the number of paid transactions have increased. He expects the matrimonial market, of which they have around 15 percent, will grow by around 40-50 percent.
Brijj.com and new initiatives: Brijj has over 50,000 registrations so far, but they’re targeting around 6 million profiles. Integration with Naukri.com will speed things up. An education site is planned, which will take around 6-9 months. No announcements yet on investments, nor a timeframe.
Financials: Quarterly | Half Yearly
Disclaimer: I have an inconsequential number of shares of Info Edge
