Nearly a third of Indian job portal Naurkri.com’s business comes from the IT industry. However, in recent months there has been a decline in the growth of the IT industry, leading to a drop in job posting. But the company claims to be still going strong.
“I have been reading reports of IT companies slowing down hiring…IT growth rate being lower than last year,” said Hitesh Oberoi, MD and CEO of InfoEdge, which runs the Naukri.com portal.
But he claims business is still going strong with the 60,000 companies they work with.
“Actually, they depend even more on us as they want to cut down on more expensive ways of hiring,” he added.
Overall, InfoEdge gets 70 per cent of revenue from the Naukri business. Oberoi said the Naukri business “did get impacted from demonetisation but not to a large extent. The business is trending very nicely.”
Oberoi expects the fourth quarter (January-March) to be much better for Naukri.com, compared with the October-December quarter, in which demonetisation was announced.