Naukri Net Sales In Q1 2007-08 At Rs 46.5 Crore; Net Profits Rs 11.6 Crore
Info Edge India Ltd, the owner of jobs portal Naukri.com, has registered net sales of Rs 46.5 crore ($11.6 million) in the first quarter of the current financial year (three months ending Jun 30, 2007) against Rs 27.9 crore during the same quarter last year. That’s a growth of 66 per cent quarter on quarter. The Delhi-based company has achieved net profits of Rs 11.6 crore in Q1 ‘07-08 compared to Rs 5.21 crore in Q1 last year, growing at more than 100 per cent.
The total sales in Q1 ‘07-08 is Rs 52 crore, bolstered by about Rs 5.5 crore in other income (income from investment in mutual funds). Naukri had raised Rs 170 crore from IPO in November last year, and could be sitting with unused capital. For instance, it had earmarked Rs 30 crore for acquisitions, which hasn’t been used.
In the last quarter (ending March 31, 2006-07), the company posted total revenues of Rs 47.29 crore (including other income of Rs 3.7 crore), and recorded profits of Rs 10.01 crore during the same period.
As for the expenditure, Naukri’s staff costs have gone up by 60 per cent to Rs 16 crore in Q1 ‘07-08, while the advertising costs doubled to Rs 10 crore in the quarter.
The net sales growth in this quarter over the previous one is about 6 per cent. Going by the current revenue growth, Naukri is expected to rake in revenues of Rs 200 crore for the full financial year 2007-08. (In the pic: Sanjeev Bikhchandani, MD, Naukri)
