Info Edge Slowly Recovers

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.

1. 99acres.com on Road to Recovery

   99acres.com parent company Info Edge is continuing its slow recovery, reporting a loss in revenue and a boost in sales for the quarter ending 31 March. Sanjeev Bikhchandani, the company's founder and CEO, says "growth is back" in India. ...

2. Rough Quarter for 99acres.com

   Info Edge (India) Ltd, owner of 99acres.com, has announced its financial results for the quarter ending 30 September 2009. ...

3. 99acres.com Claims Market Lead

   First quarter profits are up at Info Edge, parent company of Indian property portal 99acres.com, to a total of 173 million INR - 30 percent higher than in the first quarter of 2009. Info Edge co-founder and CEO Sanjeev Bhikchandani describes growth at 99acres.com as "pretty good," but admits that the portal has still not moved into the black....

4. 99acres.com Search Goes Mobile

   Indian property portal 99acres.com has launched a mobile application to search its website in partnership with mobile Internet company Mobisoc Technology. The application will allow users to access and search 99acres.com from their mobile....

5. loopnet.com: Revenue Decrease, Listings Increase

   LoopNet, Inc., operator of the largest commercial property portal in the US, loopnet.com, has announced its financial results for the second quarter of 2009 were down slightly....