Jobaaj Stories
Search platform Just Dial has reported a massive surge in profits for the quarter that ended in December 2022 as the same grew over 3x times during the quarter on a yearly basis.
The Mumbai-based firm reported a 39.3% YoY growth in its net revenues from operations as the same grew from Rs 158.89 crores reported last year to Rs 221.37 crores this year. The company operates only one segment which is ‘Search and Search-related services’, so all revenues generated pertained to this segment.
The number of Quarterly Unique Visitors grew from 142.7 million last year to 156.8 million as their app had a cumulative download of 32.2 million at the end of the quarter. The firm also launched JD Mart, a B2B wholesale marketplace.
Other income reported a growth of 150% YoY as the figure for the quarter came in at Rs 71.2 crores. Other income included a Rs 63.9 crore gain on financial instruments and a gain of Rs 1.25 crore on the sale of investments.
Total expenses surged by 25.7% during the quarter that ended in December 2022. Total expenses reached Rs 204.92 crore against Rs 163.05 crore reported in the corresponding quarter last year. Employee Benefit Expenses saw the greatest growth as the same grew 29.1% to Rs 167.32 crore.
Adjusted EBITDA was Rs 29.4 crores while EBITDA margin was 13.3%, the highest in the last 5 quarters. As a result, the profits of the company grew over 3x times during the quarter. Profit for the quarter came in at Rs 75.32 crore from Rs 19.39 crore reported last year. Moreover, profits saw a 44.4% growth on a sequential basis.
The share of Just Dial closed at Rs 627.50 per share on Friday.
Article by Aman Agarwal.
