Info Edge (NAUKRI) Q2 24/25 earnings summary

Executive summary

• Standalone Q2 FY25 billings reached INR 650.3 crores, up 14.3% YoY; revenue was INR 656.1 crores, up 10.6% YoY; operating profit grew 14.8% YoY to INR 251.2 crores with margin at 38.3%.

• Consolidated Q2 FY25 net sales were INR 701 crores, up from INR 626 crores YoY; total comprehensive income surged to INR 8,170.2 crores from INR 3,399.4 crores YoY.

• Net profit after tax dropped to INR 86 crores due to a one-time deferred tax charge; adjusted net profit rose 66% YoY to INR 346 crores.

• Cash from operations in Q2 was INR 262 crores, up 4.7% YoY; cash balance at end of September 2024 was INR 4,268 crores.

• Interim dividend of INR 12 per share declared for FY 2024-25.

Financial highlights

• Standalone revenue from operations for Q2 FY25: INR 6,560.97 million, up from INR 5,930.15 million in Q2 FY24.

• Standalone net profit for Q2 FY25: INR 858.76 million, compared to INR 2,087.07 million in Q2 FY24 (prior year included higher exceptional gains).

• Consolidated profit before tax (excluding exceptional items): INR 335 crores, up from INR 262 crores YoY.

• EPS before exceptional items and deferred taxes for Q2 FY25 was INR 20, up 21% YoY; after exceptionals: INR 6.65.

• H1 FY25 standalone billings were INR 1,230 crores (+13% YoY); revenue INR 1,295 crores (+10% YoY); operating profit INR 478 crores (+12% YoY).

Outlook and guidance

• Recruitment business momentum expected to continue, with positive trends in both IT and non-IT sectors.

• Focus remains on expanding in GCC and non-IT sectors, and on Tier 2/3 cities.

• 99acres and Jeevansathi's shift to premium model is driving top-line growth and nearing break-even.

• AI and machine learning investments to be doubled down, with rapid ROI expected.

• Management is cautious on the external environment for the education segment, especially for study abroad demand.