Just Dial shares slip in early deals post Q1 earnings

Shares of Just Dial were trading lower in early deals after the search engine firm reported its Q1 earnings. Just Dial stock opened higher at Rs 955.10 today. Just Dial shares fell 1.84% to Rs 923.80 on BSE. Market cap of the firm stood at Rs 7845 crore on BSE. Total 0.22 lakh shares of the firm changed hands amounting to a turnover of Rs 2.09 crore.

Just Dial reported a 13 per cent rise in net profit for the April-June quarter. Net profit came at Rs 159.6 crore in Q1 against a profit of Rs 141.2 crore in the year-ago period.

Revenue from operations climbed 6 per cent to Rs 297.8 crore in Q1 against Rs 280.5 crore in the corresponding quarter of the previous fiscal.

The company’s total income for the quarter stood at Rs 425.2 crore. Just Dial’s total expenses for the quarter stood at Rs 226.3 Cr, rising 4% QoQ and 6% YoY. 

EBITDA for the quarter climbed 7.2% YoY to Rs 86.4 Cr, and EBITDA margin improved 28 basis points to 29%. 

“In the last quarter, we have significantly invested in building long term capabilities. While we remain a strong horizontal platform, we are taking a more vertical focused approach to add depth and make business discovery more engaging for our users. Our use of AI to identify intent and qualify user enquiries is helping drive efficient matchmaking and deliver more conversion-ready enquiries,”Justdial’s chief growth officer Shwetank Dixit said. 

Just Dial provides local search related services to users in India through multiple platforms such as Desktop/ PC website, mobile site, mobile apps (Android, iOS, Windows), over the telephone and text. In February, it has launched its B2B portal, Jd Mart, across various platforms for users.