BWI: Info Edge (India) Limited Announced Annual and Q4 Results

Press release from Business Wire India
Source: Info Edge (India) Limited
Thursday, April 30, 2009 05:31 PM IST (12:01 PM GMT)
Editors: General: Consumer interest, Economy; Business: Accounting & management consultancy services, Banking & financial services, Business services, Financial Analyst, Information technology, Stock exchanges; Technology
Release no: 19840
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Info Edge (India) Limited Announced Annual and Q4 Results
The Company Reported 7.57 % Rise in Net Profit to Rs.596.86 Million for the Year Ended March 31, 2009

New Delhi, Delhi, India, Thursday, April 30, 2009 -- (Business Wire India) -- Highlights : Year Ended March 31, 2009

-- Total Income of FY 08-09 at Rs. 2737.96 million showed an increase of 14.24 % over previous year. Operating income is Rs.2451.66 million, which is 11.98 % higher as compared to FY07-08

-- EBITDA at Rs.938.64 million grew 11.47% compared to Rs.842.04 million as compared to FY 07-08. Operating EBITDA is at Rs. 652.34 million which is up by 2.76% as compared to FY 07-08

-- The company achieved a Net Profit of Rs.596.86 million compared to Rs. 554.88 million in FY 07-08, representing a growth of 7.57%. At the operating level, profit after tax at Rs.366.9 million has increased by 0.75% as compared to FY 07-08.

Highlights : Quarter ended March 31, 2009

-- Total Income of Q4 of FY 08-09 at Rs. 641.58 million showed a decline of 7.29% over corresponding quarter in the previous year. Operating income is Rs.577.02 million, which is 11.2% lower compared to corresponding quarter of FY07-08, as a result of a slowdown in recruitment and real estate side

-- EBITDA at Rs.245.16 million grew 2.19% compared to Rs.239.91 million as compared to FY 07-08. Operating EBITDA is at Rs. 180.6 million which is down by 8.7% as compared to FY 07-08 largely through an increase in investment in new businesses

-- The company achieved a Net Profit of Rs.138.3 million in Q4 of FY 08-09 compared to Rs. 156.1 million in the corresponding quarter of FY 07-08, representing a decline of 11.4%. At the operating level, profit after tax is Rs.107.27 million has decreased by 9.2% as compared to the corresponding quarter in FY 07-08

Info Edge (India) Limited today announced results for the year ended March 31, 2009. The company reported a Net Profit of Rs.596.86 million compared to Rs.554.88 million in FY 07-08. Info Edge recorded a Total income of Rs. 2451.66 million compared to Rs.2189.39 million in FY 07-08..

Commenting on the results, Ambarish Raghuvanshi, CFO and Director, Info Edge (India) Limited said, "The results reflect the difficult business environment in hiring and real estate to some extent, cushioned by superior execution. The focus is on cost management and on organic growth in the near term. We are well placed in terms of competition and our cash position. We hope to take advantage of this."

EBITDA increased by 11.47% at Rs.938.64 million as compared to FY 07-08. Both Jeevansathi.com and 99acres.com businesses continued to be in an investment mode. Other verticals apart from Naukri.com (including 99acres.com, Jeevansathi.com) incurred a loss of Rs.58.02 million in Q4 of FY 2008-09 as compared to Rs.78.72 million for corresponding quarter in FY 2007-08, at the EBITDA level. 99acres.com and Jeevansathi.com have achieved a growth in Revenues at 53.98% and 31.49% respectively. Info Edge launched Shiksha.com and FirstNaukri.com during FY08-09.

For the quarter ended Mar 31, 2009 the EBITDA is Rs 245.16 million compared to Rs.239.91 in the same quarter last year. Total Expense including Interest & Depreciation decreased by Rs.52.25 million as compared to the corresponding quarter in FY 07-08 primarily due to a cut in advertisement expenses and Bonus for the period apart from other cost savings in administration expenses. Other income at Rs.64.56 million is comparatively high by 53.5% in this quarter as a result of profit on sale of investment in mutual funds booked in the quarter. The proceeds have since been parked in bank FD's.

The company has initiated cost optimization measures and during the quarter ended March 31, 2009 managed to reduced administration cost by Rs 4 mn.

About Info Edge (India) Ltd

Info Edge (India) Ltd (NSE: NAUKRI) is one of the largest internet company in India. Info Edge owns and manages Naukri.com - India's no. 1 job site, Jeevansathi.com - India's fastest growing matrimonial portal, 99acres.com - India's No.1 real estate portal, Shiksha.com - an education portal, Quadrangle - an offline executive search firm, and Naukri Gulf - its foray into the Middle East market. Info Edge also owns Asknaukri.com, a career guidance site and Brijj.com, a professional networking site and Allcheckdeals.com, an online brokerage firm.

Info Edge has ventured into newer businesses and territories and attracted investments from leading venture capitalists. Formerly an ICICI Ventures investee company, Kleiner, Perkins, Caufield & Byers and Sherpalo Ventures have also invested in the Company. Info Edge raised Rs. 1,703 million through an IPO in the month of November 2006. The company has attracted a very high quality list of institutional shareholders and had a total of 11,010 shareholders on March 31, 2009.

With its headquarters in Noida (NCR), the company employs over 1600 people and operates through 61 offices in 40 cities in India and overseas offices in Dubai Riyadh and Bahrain catering to the Middle East market.

To view the Unaudited Financial Results, please click on the Link given below:

Unaudited Financial Results for the Quarter Ended March 31, 2009
For picture(s)/data to illustrate this release click below:

http://www.BusinessWireIndia.com/attachments/Results_Mar-09_1.pdf
Results_Mar-09_1.pdf


CONTACT DETAILS
Harsh Sinha, Sampark PR, +91 9971855115, harsh@sampark.com
Anjali, Sampark PR, +91 (11) 41731526/27, anjali@samparkpr.com

KEYWORDS
CONSUMER, ECONOMY, CONSULTANCY SERVICES, BANKING, BUSINESS SERVICES, Financial Analyst, IT, STOCK EXCHANGES, TECHNOLOGY, NAUKRI.NS

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