WatBlog Newsletter Archive: WATBlog Update "Naukri Q2 Results Out On a Day When Stock Markets Globally Melt Down" from "WATBlog.com - Web, Advertising and Technology Blog in India"

Friday, October 24, 2008

Here are the WATBlog email updates for watblogna@gmail.com

"Naukri Q2 Results Out On a Day When Stock Markets Globally Melt Down" from "WATBlog.com - Web, Advertising and Technology Blog in India"

Naukri Q2 Results Out On a Day When Stock Markets Globally Melt Down

Infoedge (Naukri.com) has released its quarterly numbers are has reported a net income of Rs 15.67 crore for quarter ended September 2008, which is a 3.5 per cent growth over previous year. Total income is up by 24 per cent to Rs 72.32 crore as compared to Rs 58.50 crore a year ago.

infoedge

According to Ambarish Raghuvanshi, CFO and Director, Info Edge India, has said, "The company’s results are good considering the difficult operating environment. We have continued to grow, albeit slowly despite the downturn in hiring levels. Other businesses, especially 99acres.com grew very appreciably. We therefore have engines of growth for the future which we are continuing to invest in."

We had Interviewed the Infoedge COO Hitesh Oberoi yesterday who also felt that the growth would be slow in the year ahead.

Growth in portals like Jeevansathi.com and 99acres has been impressive though at 98.9 per cent and 40.3 per cent respectively. Though given that that non naukri revenue only contributes 12% this growth would have little or no impact on overall numbers.

Well Naukri numbers come out on a day when a global financial meltdown and Naukri’s own stock was down 5% today while it had lost close to 30% from the levels at which it got listed on the stock market in november 2006. while BSE Sensex crashed 13% down 1138 points. We had taken the VC’s view on the slowdown and it seems they were right when they called the slowdown to be 2-3 years. As analysts on Cnbc Tv18 one of the leading financial news channels have also been predicting atleast a 2 year long slowdown.

Questions to Readers: Which segments in digital media do you think will get affected? Do you think advertising online and mobile will grow? Do you think startups will continue to prosper in such an environment?

Also Check Out:

WATShow.com - Our Video Show

WATJob.com - Our Job Site

WATGame.com - Our Gaming Blog

WATSearch - Our Search Engine

• Email to a friend • Article Search • Related • View comments • Track comments •

•