Naukri turns cash cow for Info Edge, company plans to make more money in Shiksha. to pump
Info Edge stock is up more than 12 percent over the past month. The internet-only company, which operates online portals such as Naukri.com, Jeevansathi.com and 99acres.com, reported its fourth quarter figures on the 21st 119 crore, an increase of 157.11 percent year on year.
Hitesh Oberoi, MD and CEO of Info Edge, spoke about the company’s prospects in an interview with CNBC-TV18.
“Most investors see Info Edge as the sum of its parts. There’s the Naukri business, which is our cash cow. Info Edge’s recruiting business generated Rs.195 billion in cash last quarter. That finances all the investments we’ve made, ”he said.
99 Acres and Jeevansathi were affected due to COVID and lockdown. Shiksha is not affected, he said, adding that the Shiksha model is different from other ed-tech players like Byjus and Simplilearn. The company plans to pump more money into the shiksha vertical.
“We were pleasantly surprised by the growth in Shiksha, it is growing by 50 percent,” he said.
Info Edge plans to continue investing and hopes it can be done quickly.
“We hope to maintain the growth rates we saw in the fourth quarter and will try to improve them further,” said Oberoi.
Regarding Policybazaar’s IPO schedule, he said, “The dates are yet to be released. The board did not accept that. “
You can find the full interview in the accompanying video.
(Edited by : Abhishek Jha; Dipika)
First published: IS
