NAUKRI's Q2 FY27 numbers came in strong, with revenue of Rs. 903.88 Cr (+12.22% YoY) and PAT growth of +87.00% YoY. Here's a quick read of what worked, what to watch, and what management said.
Quick Details| Results date | October 28, 2026 |
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| Quarter | Q2 FY 2026-2027 |
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| Revenue (Q2) | Rs. 903.88 Cr (+12.22% YoY) |
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| PAT (Q2) | Rs. 649.77 Cr (+87.00% YoY) |
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| EBITDA margin | 39.16% (+454 bps YoY) |
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| EPS (Q2) | Rs. 7.40 (+51.30% YoY) |
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| Market cap | Rs. 76,773.03 Cr |
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| CMP | Rs. 1,184.00 |
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Quarter Snapshot
Info Edge delivered 12.2% consolidated revenue growth with a record 41.27% standalone Operating PBT margin (+541 bps YoY), the fifth straight quarter of margin expansion, driven by flat employee costs against double-digit topline growth. 99acres met management's >20% billings-growth target and is effectively at break-even, while AI products (~Rs.240 Cr run rate) are emerging as a new growth driver despite a flat hiring market. Key watch items are Shiksha's AI-driven billings decline (−27.2%), NaukriGulf softness, and the fact that headline +87% PAT growth is largely mark-to-market other income plus a 13.1% effective tax rate rather than operations.
Key Investment Insights
Key Positives
- Consolidated revenue grew 12.22% YoY to Rs.903.88 Cr; standalone +12.82% YoY to Rs.841.66 Cr
- Standalone Operating PBT margin reached a record 41.27% (+541 bps YoY), the fifth consecutive quarter of margin expansion
- Employee cost grew only 0.53% YoY against 12.82% revenue growth, demonstrating operating leverage
- 99acres billings grew 21.2% YoY (vs >20% target) and operating loss narrowed 93% YoY to Rs.(1.64) Cr, effectively break-even
- AI/data products reached a high single-digit share of Recruitment topline at ~Rs.240 Cr annualized run rate; AI-Rex has 2,000+ and Talent Pulse 750+ paid customers
- Recruitment billings +12.6% reported (~14–15% underlying) with segment margin of 59.09%, +325 bps YoY
- Jeevansathi + Aisle combined billings grew 23.1% YoY; Jeevansathi profitable at operating level
- Interim dividend of Rs.3/share declared (Rs.194.53 Cr, 58.3% of Q2 standalone PAT), within the up-to-65% payout policy
Risk Factors
- Shiksha billings declined 27.2% YoY (worse than −22.8% in Q1) amid AI-driven search disruption
- NaukriGulf growth slowed to +9% YoY from +12% in Q1, below its ~20% pre-disruption trajectory
- Recruitment-consultant billings grew only 5% in H1 vs GCC +19% and Other sectors +16%
- Consolidated Others segment loss widened to Rs.(30.34) Cr (−26.05% margin), worse than standalone Others which was profitable
- Profit attributable to NCI jumped to Rs.170.06 Cr (26.17% of consolidated net profit vs 8.95% YoY), limiting PAT-to-parent growth to +51.62% vs +87.00% total
- Headline PBT growth of +85.21% YoY is largely mark-to-market other income; PBT excluding other income grew 32.0%