Just Dial shares tumble 6% post weak Q3 earnings

Shares of Just Dial dipped nearly 6 per cent today after the company reported a 61.2 per cent fall in its consolidated net profit for the quarter ended December 2021. The stock opened with a loss of 4.45%  at Rs 802.20 today against the previous close of Rs 839.55 on BSE.

Just Dial stock fell 5.78% to an intraday low of Rs 791. On the NSE, it tumbled 5.90 per cent to Rs 790. The stock has lost 7.34% in the last 2 days.

Just Dial stock trades higher than 50 day moving averages but lower than 5 day, 20 day, 100 day and 200 day moving averages. The share has gained 23.36% in one year but fallen 0.38% in 2022. Total 0.63 lakh shares of the firm changed hands amounting to a turnover of Rs 5.04 crore on BSE.  Market cap of the firm fell to Rs 6,822 crore on BSE.

Later, the stock pared losses and ended 2.78% lower at Rs 816.25 on BSE. The mid cap stock hit 52 week high of Rs 1138 on July 14 ,2021 and a 52 week low of Rs 550 on  February 24, 2021.

Just Dial reported a profit of Rs 19.4 crore for the quarter ended December 2021 against net profit of Rs 49.9 crore in the year-ago period.

Net revenue from operations dipped 6.2 per cent to Rs 158.89 crore in the October-December 2021 quarter, from Rs 169.54 crore in the year-ago period.

The company reported EPS of Rs 2.29 for the quarter ended December 31, 2021 as compared to Rs 7.90 for the quarter ended December 31, 2020.

Total income fell to Rs 187.44 crore during the quarter ended December 31, 2021 compared to Rs 199.92 crore during the quarter ended December 31, 2020.

The company said it has ramped up hiring across critical functions such as technology, content, sales and marketing teams which has resulted in higher employee expenses. In the sales department, headcount was up 18.3 per cent sequentially. "These investments should result in superior product offerings and higher monetisation going forward," Just Dial said.