Internet software & services company Info Edge (India) announced Q1FY24 results: Info Edge (India) recorded a 15.1% jump in Revenue From Operations at Rs 584.3 crore on a standalone basis for Q1FY24 as compared to Rs 507.7 crore in Q1FY23. The revenues for Q1FY24 in the recruitment business grew 15.3% YoY while the revenues in the real estate business grew 24.6% YoY. Billing for Q1FY24 dropped marginally by 0.2% YoY and stood at Rs 523 crore. The company registered a growth of 37.2% in its operating profit which stood at Rs 208.9 crore on a standalone basis for Q1FY24 as compared to a profit of Rs 152.3 crore in Q1FY23. The standalone business generated cash from the operation of Rs 144.6 crore for Q1FY24. While announcing the results, Hitesh Oberoi, Managing Director, and Chief Executive Officer said, “The Naukri business is facing headwinds in IT Hiring, however, the Non-IT Hiring market continues to look good. Growth in 99acres continues to be strong. In Jeevansathi our Freemium strategy has helped us bring down our marketing spend and cut burn over the last few quarters.” Chintan Thakkar, CFO and Whole Time Director commented, “Despite the challenging environment in IT recruitment, growth in Billings and rationalization of spending in 99acres, Shiksha and Jeevansathi business contributed to generating ~145 crore of cash from operations in Q1FY24. ” Result PDF