Just Dial shares gain over 5% on 11% jump in Q4 profit at Rs 83.6 crore
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Just Dial’s profit has witnessed growth every year since Reliance Retail acquired 67 percent stake in the company in July 2021.
Shares of Just Dial Ltd surged more than 5 percent on April 18 on the back of strong earnings and continued recovery in margins that the company reported for the January-March quarter.
The local listings search engine posted better-than-expected net profit because of a rise in unique visitors, active listings, and paid campaigns on its platform. According to the company, 15.9 crore unique visitors ended up on its platform in January-March, up from 15.7 crore in October-December. This metric has risen for the fifth consecutive quarter, the company said.
At 11.31am, the stock price of Just Dial was quoting Rs 680.50 per share, up 5 percent from the previous close on the BSE.
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Just Dial’s net profit for the fourth quarter of fiscal year 2023 surged 11 percent to Rs 83.6 crore against Rs 75.3 crore in the previous quarter. Consolidated revenue for the fourth quarter grew 5 percent to Rs 232.5 crore as against Rs 221.4 crore.
The adjusted margin of earnings before interest, tax, depreciation, and amortisation improved significantly to 15.3 percent in the March quarter from a negative 0.5 percent at the end of 2021-22 (April-March).
The stock has given a return of nearly 90 percent in the last three years. However, in the past year, the stock price has fallen more than 21 percent.
Just Dial’s profit has seen steady growth in the last couple of years since Reliance Retail acquired nearly 67 percent stake in the company in July 2021. Just Dial ended fiscal 2023 with a net profit of Rs 162.7 crore, as against a profit of Rs 70.8 crore in FY22.
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