Info Edge India Ltd., the parent company of Naukri and 99Acres, continued to experience robust growth in net profit in the second quarter of FY2021 despite a drop in revenue.

Revenue fell 19.1% year-on-year to INR 2.6 billion, while net profit surged 453% to INR 512 million from INR 93 million. The company’s profit amounted to INR 832.2 million in Q1.

Info Edge’s significant profit mainly stemmed from tax credits delivered during both the quarters. Billings (invoices sent to customers) recovered 32.3% in the second quarter over the previous one.

Recruitment solutions segment covering Naukri in India and Gulf saw revenue fall 19.3% year-on-year to INR 1.8 billion. The segment’s profit before tax was down to INR 943.8 million from INR 1.2 billion.

Revenue from 99Acres dropped 36.2% to INR 363.4 million. The marketplace recorded a loss before tax of INR 106.1 million in Q2 as opposed to profit of INR 7.8 million the same period a year earlier.

Headquartered in Noida, Info Edge has around 4,500 people on its payroll working in 75 offices in 46 cities in India and other overseas offices in Dubai, Riyadh, Abu Dhabi and Bahrain.

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