CandyDate Jobs Q2 Net Profit Rises 210%

Online, April 23, 2011 (Newswire.com) - CandyDate Jobs, one of the world's largest human resource consultancy firms, reported a 210% rise in Q2 profit as the international job market continued to perform better. The total registered user base of CandyDate Jobs swelled to 11.4 million; however, the attrition rate of employees in the company rose to 18% per month.

This quarter total revenue was up 610% to US $77.12 million or Rs 347 crore as compared to the US $24.88 million or Rs 111.90 crore in the last quarter. Q2 net profit was up 210.12% to US $12.68 million or Rs 57.04 crore as compared to US $4.09 million or Rs 18.40 crore in the Q1.

The recent acquisition of UK Steels, an India based steel plant labour consultancy caused a net loss of US $3.09 million or Rs 13.90 crore as the steel output in India continued to decrease, however, CandyDate Jobs is confident that it will turnaround UK Steels in the next three months.

"We will be foraying into multiple businesses which are co-related to our primary business of placement. We have secured investments from various private equity players and we are in comfortable position to expand." said Rahul Malhotra, CXO of CandyDate Jobs.

CandyDate Jobs have mega plans to foray into online retailing, finance and real estate consultancy. The blue print of the expansion plan is in place and may be implemented by the next quarter. CandyDate Jobs will also open 300 offices worldwide.