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Info Edge (India) announces reports 19 pct up Net Sales in Q1 FY16

India Blooms News Service | | Jul 28, 2015, at 04:45 am

#Info Edge (India) # 19 pct up Net Sales # Q1 FY16 result

New Delhi, July 27 (IBNS): Info Edge (India) Limited on Monday announced results for the 1st quarter ended June 30, 2015.

Info Edge recorded Net Sales of Rs 171.8 crore for the quarter ended June 30, 2015 compared to Rs 145 crore in quarter ended June 30, 2014, up 19%.

The company reported PAT of Rs. 28.7 crore for the quarter ended June 30, 2015 compared to Rs. 39.8 crore for quarter ended June 30, 2014.

Commenting on the results, Chintan Thakkar, CFO said, “The results validate that we are on track in executing the plan of building valuable internet properties with a right mix of growth in revenue and investment. The recruitment Solution segment continues to grow at a healthy rate of about 20% with the segment profit at 53%. 99acres has accelerated investments in the business and we are confident of continuing to lead in this space."

During the quarter, recruitment solutions grew by about 20% while the real estate vertical grew by 12% over the corresponding quarter in FY 2014-15.

The margins in recruitment solution segment is at about 53%. 99acres continuing investment in Product, Technology, Operation and Marketing has resulted in a loss of 34.75cr for the segment. The overall impact of this is that the PAT is 28.7 crore against previous year PAT of 39.8 crore.

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