Info Edge India Limited — the parent company of leading Indian verticals Naukri and 99Acres — registered a healthy 20.5% growth in revenues for the first quarter of FY 2019-20.

The company reported revenue of $44 million U.S. (₹312.8 crores INR) for the quarter ended June 30, 2019, representing a growth rate of 20.5%, the company said in a statement.  Total income amounted to $47.4 million, representing an increase of 19.1%.

CFO Chintan Thakkar said the company witnessed year-over-year growth of about 20% across all metrics, including revenue, billing, operating EBITDA and total income. “We continue to leverage our strong cash surplus position to invest in technology and branding.”

Info Edge owns several other internet businesses and has strategic investments in successful enterprises like Zomato and PolicyBazaar. Its recruitment verticals like Naukri and Naukri Gulf continue to be most profitable. Despite being a dominant property site in India, 99Acres continues to be affected by the general market stagnation across the country.

Info Edge raked in at least $30 million from recruitment verticals alone. Although Naukri Gulf has gained considerable traction in recent years, Naukri consistently comes up as the group’s cash cow. The vertical appointed Pawan Goyal as its new Chief Business Officer earlier this year and acquired job site IIMJobs in May.

Headquartered in Noida, Info Edge has more than 4,400 employees across the country. It operates 73 offices across 47 Indian cities. It also runs overseas offices in Dubai, Riyadh, Abu Dhabi, and Bahrain.

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