The second wave of COVID-19 has had minimal impact on the hiring business in certain verticles, said Hitesh Oberoi, MD and CEO of Info Edge in an interview with CNBC-TV18. The digital transformation story is playing out in almost all categories.

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"A lot of the hiring we are seeing is of people with digital skills. Even the non-IT companies are also accelerating their plans to go digital. That is what has led to this recovery. Compared to two years ago, IT jobs are up by 50 percent,” he added.

The report further found that attrition rates as well as salaries are going through the roof for people with the right skills,"it is a crazy market out there for IT," Oberoi observed.

60 percent of Naukri’s business is now linked to IT versus 45 percent earlier. Healthcare, consumer, pharma, education jobs continue to be steady.

“Hopefully going forward things will be better on all fronts,” he stated.

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Naukri turns cash cow for Info Edge, company plans to pump in more money into Shiksha

In terms of Policybazaar IPO timeline, he said, “It is yet to announce the dates. The board hasn’t taken a call on that.”

“Most investors see Info Edge as a sum of parts story. There is Naukri business which is our cash cow. In the last quarter, the recruitment business of Info Edge has generated Rs 195 crore of cash. That is funding all the investments we made,” he said.

99acres and Jeevansathi were impacted because of COVID and because of the lockdown. Shiksha has not been impacted, he mentioned.

“We will continue to invest hoping and assuming that we can grow our businesses rapidly and continue to maintain the growth rates we saw in Q4 and try and further improve on them,” Oberoi said.

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(Edited by : Abhishek Jha)

First Published:Jun 22, 2021 2:08 PM IST