Just Dial under pressure after Q2 net profit declines 30.5% yoy to Rs32.9cr

The company’s total operating revenue stood at Rs156cr, down 6.9% yoy.

Oct 21, 2021 09:10 IST India Infoline News Service

Just Dial Limited, India’s leading local search engine company, on Wednesday announced its financial and operating results for its second fiscal quarter ending September 30, 2021.

The company’s total operating revenue stood at Rs156cr, down 6.9% yoy.  Operating EBITDA at Rs16cr. Adjusted Operating EBITDA, excluding ESOP expenses, stood at Rs20.8cr.

Net Profit of the company stood at Rs32.9cr, down 30.5% yoy. Other income stood at Rs35.6cr for the quarter. Deferred Revenue stood at Rs334.2cr, up 8.7% qoq and up 19.6% yoy.

Cash and Investments of the company stood at Rs3,773.4cr as of September 30, 2021, compared to Rs1,427.4cr as of September 30, 2020, and Rs1,533cr as of June 30, 2021. This increase is on account of Rs2,164.9cr received upon the preferential issue of Equity Shares to RRVL.

At around 9.54 am, Just Dial Ltd was trading at Rs873.20 per piece down by Rs9.1 or 1.03% from its previous closing of Rs882.30 per piece on the BSE.

Reliance Retail Ventures Ltd (RRVL) has recently acquired a controlling stake in Just Dial via the following transactions, for a total consideration of Rs5,719cr:
  • Preferential issue at Rs1,022.25/ share for a consideration of Rs2,165cr
  • Acquisition from Mr. VSS Mani, Managing Director, at Rs1,020.00/ share, consideration of Rs1,332cr
  • Acquired ~26% stake via Open Offer at Rs1,022.25/ share, consideration of Rs2,222cr
  • RRVL now holds 67.0% stake in JD and overall, Promoter Group shareholding stands as 77.7%.
Business Highlights
  • Total Traffic (Unique Visitors) for the quarter stood at 149.5 million, up 14.5% yoy and 20.5% qoq. 83.4% traffic originated on Mobile platforms, 12.2% on Desktop/ PC and 4.4% on our Voice platform.
  • Total Active Listings stood at 31 million as on September 30, 2021, an increase of 3.3% yoy and 1.3% qoq. 405,662 listings were added (net) to the database during the quarter. Out of total listings, 17.7 million listings were geocoded as on September 30, 2021, up 3.7% yoy. Total Images in listings stood at 109.7 million, up 13.5% yoy and up 3.1% qoq.
  • Total Ratings & Reviews stood at 123 million at the end of quarter, up 9.9% yoy.
  • Active Paid Campaigns at the end of quarter stood at 430,720, drop of 4% yoy and 1.6% qoq.

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