[ad_1]
Thakkar said the hiring patterns generally reflect broader economic conditions, and the balance between IT and non-IT hiring aligns with shifts in the external job market.
As part of its growth strategy, Info Edge has been expanding its presence in smaller cities and towns, particularly in Tier 2 and Tier 3 locations, which has helped drive additional growth.
While the non-IT sector has shown steady growth, any resurgence in IT hiring would likely lead to further expansion on the platform. He emphasised that both IT and non-IT job categories are performing well on Info Edge’s platform.
The job market overall is helping boost growth, Info Edge’s high performance is largely due to strong execution by its sales, marketing, and product teams, which has provided an extra “delta” of growth beyond market conditions. This success is attributed to both effective execution and an improving job market in IT and non-IT sectors.
Regarding other business areas, Thakkar stated that losses are decreasing in Info Edge’s property platform, 99acres, with expectations to reach earnings before interest, taxes, depreciation, and amortisation (EBITDA) neutrality by the fourth quarter.
The matrimonial service Jeevansathi has achieved over 30% growth in the past two quarters, nearing EBITDA breakeven.
Info Edge reported its Q2 financial results on November 8. The company’s consolidated revenue from operations reached ₹700.82 crore, up from ₹625.85 crore in the same period last year. Total income, including other revenue sources, amounted to ₹781.16 crore.
The company’s market capitalisation stands at around ₹1,03,048.53 crore, with its shares gaining approximately 76% over the past year.
For more details, watch the accompanying video
First Published: Nov 12, 2024 2:51 PM IST
[ad_2]
Source link