Info Edge (NAUKRI) Q2 26/27 earnings summary

Executive summary

• Standalone Q2FY27 billings grew 12.8% to ₹822cr, revenue rose 12.8% to ₹842cr and operating PBT increased 29.8% to ₹347cr; H1 revenue and operating PBT grew 12.4% and 31.6%.

• Growth was broad across Recruitment, 99acres and Matchmaking; Shiksha faced search-traffic headwinds during its business-model transition.

• Consolidated Q2 revenue was ₹904cr, up 12.2%; PBT before exceptional items and tax was ₹748cr, up 85.2%.

Financial highlights

• Standalone H1 billings were ₹1,559cr, up 13.5%; revenue was ₹1,666cr, up 12.4%; operating PBT was ₹681cr, up 31.6%.

• Standalone operating PBT margins were 41.3% in Q2 and 40.9% in H1, up 541 bps and 596 bps YoY; Q2 Recruitment margin was 59.1%.

• Cash from operations before tax was ₹373cr in Q2 and ₹598cr in H1, up 27.4% and 26.6%; September 30 cash balance was ₹4,976cr.

• Consolidated H1 revenue was ₹1,785cr, up 11.8%; PBT before exceptional items was ₹1,244cr, up 48.2%.

• Standalone Q2 net profit was ₹334cr versus ₹4,720cr a year earlier, when results included a ₹5,200cr unrealised fair-value exceptional gain.

Segment performance

• Recruitment billings grew 12.6% in Q2 and 14.9% in H1; Q2 revenue rose 13.3%, operating PBT increased 19.9%, and margin was 59.1%.

• 99acres billings grew 21.2% in Q2 and 19.2% in H1; Q2 revenue was ₹134cr, operating loss narrowed 93% to ₹1.6cr, and cash from operations reached ₹22cr.

• Matchmaking billings rose 23.1% in Q2 and 21.7% in H1; Jeevansathi grew 18.4% in Q2 and remained profitable, while Aisle grew 40.0% and moved closer to breakeven.

• Shiksha billings declined 27.2% in Q2 and 24.5% in H1; lower Google-referred search traffic affected client delivery.

• Candidate Services B2C billings grew 37% in Q2, with 2.7% paid conversion; Naukri Gulf grew 9% at ~36% margins and JobHai billings rose 86%.