After a rough quarter ending 30 September, 2009, Indian online classifieds company Info Edge has reported increases in net profit and net sales for the three months ending 31 December, 2009.
Info Edge, which owns real estate portal 99acres.com along with jobs portal naukri.com and matrimonial website jeevansathi.com, increased net profits by 6.2 percent to 156.45 million INR. However, this is still down from the corresponding quarter in 2008, when the company made 172.12 million INR net profit.
Net sales were up 6.7 percent to 588.75 million INR, but again this was still down on the corresponding 2008 total of 589.21.
Info Edge told business-standard.com that 99acres.com continued to be in “investment mode” throughout the quarter, but said its losses were reduced.
“The environment continues to improve, which should lead to top line and bottom line expansion in subsequent quarters,” said director and chief financial officer Ambarish Raghuvanshi.