Millennium Post owner co’s Q1 net up 35% to `40 cr

The company had posted a net profit of Rs 29.4 crore for the year-ago period, it said in a statement.
Net sales rose by 20 per cent to Rs 144.9 crore for the April-June quarter of this fiscal compared to Rs 120.7 crore in same quarter for 2013-14 fiscal.

‘The Board of Info Edge (India) Ltd recommended to the shareholders to raise fresh funds through issue of securities to the extent of Rs 750 crore by way of QIP (Qualified Institutional Placement),’ the company said. The fund is being raised to invest in the organic as well as inorganic growth opportunities in existing business(es), in particular in, it added.

Commenting on the firm's performance, Info Edge CEO and Managing Director Hitesh Oberoi said: ‘Our recruitment business continues to grow in line with improved business confidence levels, the IT and ITES sectors are growing well and other sectors have also started showing some positive signs.’ 
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