Info Edge’s near-term prospects tied to non-IT sector performance
SummaryThe pain in the IT segment was offset by strong business from non-IT sectors such as banking, financial services, and insurance; hospitality and real estate.
Info Edge (India) Ltd was expected to be at the receiving end of the slowdown in the information technology (IT) sector in the March quarter. After all, the company’s recruitment solutions vertical, which includes Naukri.com, derives about half of its billing from IT. However, Info Edge has clocked a decent 14% increase in recruitment solutions billing last quarter.