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Will use cash for acquisitions; won't immediately return to shareholders: Info Edge

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In an interview to CNBC-TV18, Hitesh Oberoi, MD & CEO of Info Edge India spoke about the latest happenings in the company and gave his outlook for the future.

In an interview to CNBC-TV18, Hitesh Oberoi, MD & CEO of Info Edge India spoke about the latest happenings in the company and gave his outlook for the future.
Oberoi said that after closing the deal with Alipay we have about Rs 1,700-1,800 crore on our books.
He further said that Naukri.com is a cash generating business for us and it generates about RS 80-90 crore of EBITDA every quarter and of course we got USD 50 million from Zomato deal.
We will use cash for acquisitions and will not immediately return cash to shareholders, he said.
Talking about job market, he said we have seen market bounce back in the non-IT job space.

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