Info-Edge India-owned real estate portal 99acres grew 16.5 per cent in the June quarter but also posted a loss of Rs 21 crore down 40 per cent from Rs 36 crore at the same time last year.
Chief financial officer Chintan Thakkar says the environment in the real estate market remains tough but losses at 99acres were lower compared to last year due to lesser competition.
The company also reported a 17.1 per cent growth for its recruitment solutions vertical Naukri.com and says this business commands a 75 per cent traffic share of the jobportals market and is continuing to grow.
Along with 99acres and Naukri.com, Info Edge owns Jeevansathi.com, a matrimonial portal, Shiksha.com, an education portal Quadrangle, an offline executive search business and Naukri Gulf.
Overall Info Edge reported a 55 per cent rise in its net profit at Rs 44 crore for the quarter ended June, compared to Rs 29 crore a year ago.
The company’s total income increased 14 per cent to Rs 222 crore for the quarter from Rs 194 crore in the year-ago quarter.
“We are pleased with a healthy growth of operating Ebitda by 136 per cent, year-on-year and operating Ebitda margin change from 14 per cent to 28 per cent," Thakkar says.
"The growth is led by an increase in revenue of 17.3 per cent yoy and operational efficiencies, particularly in the area of marketing spend."
Thakkar adds Info Edge's investment in online search and discovery search portal Zomato is paying off with revenue growth high enough to suggest the business might break even some time in this financial year
Apart from Zomato, other significant strategic investments the company has in emerging internet companies include Meritnation, Policybazaar, mydala.com, Canvera and Happily Unmarried.
Info Edge employs 4,250 people and operates through 72 offices across 46 cities in India, besides offices in Dubai, Riyadh, Abu Dhabi and Bahrain.