Just Dial profit declines 61.2% in October-December quarter

Just Dial on Tuesday said its consolidated net profit declined by 61.2 per cent to Rs 19.4 crore for the quarter ended in December 2021.

The company’s net profit stood at Rs 49.9 crore in the year-ago period, Just Dial said in a regulatory filing.

Its net revenue from operations dipped 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, it added.

The company said it has ramped up hiring across critical functions such as technology, content, sales and marketing teams which has resulted in higher employee expenses. In sales department, headcount was up 18.3 per cent sequentially.

“These investments should result in superior product offerings and higher monetisation going forward,” Just Dial said.

Its cash and investments stood at Rs 3,769 crore as on December 31, 2021 compared to Rs 1,509.6 crore as on December 31, 2020 and Rs 3,773.4 crore as on September 30, 2021.

Just Dial said total traffic (unique visitors) for the quarter stood at 142.7 million, up 7.7 per cent y-o-y and down 4.6 per cent q-o-q. About 84.2 per cent traffic originated on mobile platforms, 11.4 per cent on Desktop/ PC and 4.4 per cent on voice platform.

Total active listings stood at 31.4 million as on December 31, 2021, an increase of 4 per cent y-o-y and 1.3 per cent q-o-q.

About 4,13,100 listings were added (net) to the database during the quarter. Out of total listings, 17.9 million listings were geocoded as on December 31, 2021, up 4.1 per cent y-o-y.

Active paid campaigns at the end of quarter stood at 437,335, drop of 3.6 per cent y-o-y and up 1.5 per cent q-o-q.

In the September 2021 quarter, Just Dial had allotted shares worth Rs 2,168.88 crore to Reliance Retail Ventures Ltd (RRVL). The aggregate holding of RRVL in the company stands at 66.97 per cent as on date.