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Info Edge (India) Ltd. reported strong financial performance for the quarter. Both, sequential revenue growth and Ebitda margin were broadly as per estimates.
Revenue grew by 4.8% QoQ, led by 8.0% QoQ growth in the revenue of recruitment business consolidated billing remained strong as it grew by 31% YoY. There was sequential increase in Ebitda margin(up 246 bps QoQ) on account of control on advertising and promotion expense.
Added two million resumes (QoQ) in the quarter to end at 86 million resumes. The robust hiring activity in IT and non‐ IT sectors continue to power the recruitment business.
The recovery in real estate market continues to be on track and would support the performance of 99acres.com. We expect that, with change in business strategy for Jeevansathi.com, the engagement levels should pick up going ahead.
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