Info Edge profits surge 40 per cent to Rs 21.92 cr in December quarter

NEW DELHI: Info Edge (India) on Thursday reported a profit of Rs 21.92 crore for the three months ended December 2010, an increase of 40 per cent as compared to the year-ago period.

The higher profit in the third quarter of this fiscal year was mainly on the back of good showing of its businesses -- Naukri.com and real estate portal 99acres.com.

The company had a profit of Rs 15.64 crore in the year-ago period.

In the 2010 December quarter, revenues climbed to Rs 81.78 crore from Rs 66.06 crore in the same period a year ago.

"Third-quarter results are good and the bottom line looks healthy. Naukri.com and 99acres did well and their competitive positions improved during this period," Info Edge CFO and director Ambarish Raghuvanshi said.

Total expenses including interest & depreciation for the third quarter stood at Rs 49.6 crore, higher than Rs 42.4 crore in the year-ago period.

"This is largely due to the increase in head count over the corresponding last year and a higher variable payout due to higher growth," Info Edge said in a statement.

Noting that Naukri.com makes a big difference for the company, Raghuvanshi said the job portal accounts for over 75 per cent Info Edge's total revenues.

Shares of Info Edge closed marginally down at Rs 575.80 on the Bombay Stock Exchange.