When India’s hiring pulse slows, everyone looks at Naukri to check if it’s a nap or a coma. Q1 FY26 saw revenue climb 15% YoY to ₹736 crore, with operating profit up 10% — but recruitment billings growth moderated to 9% from the teens of previous quarters. Management blames a mid-quarter cocktail of geopolitics, tariff worries, and client “wait-and-watch” syndrome. The good news? Jeevansathi broke even, 99acres kept gaining market share, and AI is working overtime in search, recommendations, and even ad copy. The less-good news? BFSI, infra, IT services, and consultants tapped the brakes. July looked better, but no one’s betting the house yet.
Why it matters? Because Info Edge is the barometer for white-collar hiring — and right now, the needle is twitching.
Stick around—things get spicier two scrolls down.
AT A GLANCE
• Revenue up 15% – recruitment still the cash cow at 53% margin
• Recruitment billings growth slowed to 9% – macro jitters, contract deferrals blamed
• Jeevansathi broke even – Hindi belt focus paying dowry
• 99acres billings up 17% – still the plot leader in property classifieds
MANAGEMENT’S KEY COMMENTARY
Hitesh Oberoi (MD):
“Billings growth moderated due to macro events and sectoral slowdown.”
Translation: Clients ghosted
