Just Dial reports 61.2% drop in quarterly net profit

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

Just Dial stock fell 5.78% to a low of 791 on the intraday low. It fell 5.90 per cent to Rs 790 on the NSE. The stock 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 gained 23.36% in a single year, but fell 0.38% in 2022. The firm's shares changed hands, to a turnover of Rs 5.04 crore on the BSE, of a total of 0.63 lakh. The firm's market cap fell to Rs 6,822 crore on the BSE.

The stock was 2.78% lower on BSE, down from Rs 816.25 at the end of the day. The mid cap stock hit a 52 week high of Rs 1138 on July 14th, 2021 and a 52 week low of Rs 550 on February 24, 2021.

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

Net revenue from operations fell by 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 2.29 for the quarter ended December 31, 2021, compared to 7.90 for the quarter ended December 31, 2020.

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

The company said it has increased hiring across critical functions such as technology, content, sales and marketing teams, which has resulted in higher employee expenses. The sales department had an increase in headcount by 18.3 per cent. Just Dial said that these investments should result in superior product offerings and higher monetisation going forward.