Q3 2024 Info Edge (India) Ltd Earnings Call Transcript
Key Points
- Info Edge (India) Ltd (BOM:532777) reported a year-on-year growth of 7% in standalone revenue for Q3 FY '24, reaching INR595 crores.
- The company saw a 13% year-on-year growth in operating cash generation, amounting to INR272 crores in Q3 FY '24.
- The real estate segment, 99acres, experienced a 22% year-on-year growth in revenue for Q3 FY '24, with billings increasing by 24%.
- The Naukrigulf business reported a significant growth of 28% during the quarter, driven by new customer additions.
- The matrimony business, Jeevansathi, saw a 23% year-on-year growth in revenue for Q3 FY '24, with a notable reduction in operating losses by 48%.
- The recruitment solutions business experienced a 1% year-on-year decline in billings for Q3 FY '24, primarily due to a slowdown in IT hiring.
- Operating expenses for the recruitment business grew by 14% year-on-year in Q3 FY '24, impacting profitability.
- The JobSpeak Index indicated a 14% year-on-year decline in overall job postings for Q3 FY '24, reflecting continued softness in IT hiring.
- The education business, Shiksha, reported a nominal profit of INR10 lakhs for Q3 FY '24, indicating minimal profitability despite higher billings.
- The company faces challenges in achieving double-digit growth if IT hiring does not recover, as IT hiring significantly impacts overall business performance.
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All right, everyone, good evening. We wait for a minute while people are joining, and then we start the call. Good evening, everyone. We are just waiting for a minute while people are joining the virtual call.
Vivek, we have 70 people with us. We can start the call now.
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Thanks, Anand. Hi, everyone. Good evening, and welcome to Info Edge (India) Limited Q3 '24 results conference call.
(Event Instructions) Please note that this conference is being recorded. Joining us from the management side, we have Mr. Sanjeev Bikhchandani, Promoter and Vice Chairman; Mr. Hitesh Oberoi, Co-Promoter and Managing Director; and Mr. Chintan Thakkar, Chief Financial Officer.
Before we begin today, I would like to remind you that some of the statements made in today's conference call may be forward-looking in
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