Just Dial's Net Profit boosted by 18 per cent in Q1

Local search engine Just Dial (JUSTDIAL) declared its unaudited standalone results for the June quarter on 27th July. The company reported a growth of 24.88 per cent annual basis in total operating revenue, which stood at Rs 168.62 crore in Q1FY16 as against Rs 135.03 crore in Q1FY15. Revenue growth is mainly because of 25 per cent annual growth in number of paid advertisers campaigns, which reached at 3.46 lakh campaigns as of 30th June 2015 compared to 2.78 lakh campaigns on 30th June 2014.

JUSTDIAL's total operating expenses increased by 18.97 per cent to Rs 120.20 in Q1FY16 against Rs 101.03 crore in Q1FY15. Its operating expenditure increased mainly due to 30.86 per cent year on year growth in employees cost to Rs 88.11 crore in Q1FY16 and its employee count stood at 10789 as of 30th June 2015. On the other hand company's other expenses declined by 4.78 per cent to reach Rs 32.09 crore on an annual basis.

JUSTDIAL's Earnings before interest, tax, depreciation and amortization (EBITDA) boosted by 42.41 per cent to reach Rs 48.42 crore in Q1FY16 on an annual basis and its EBITDA margin expanded by 354 basis points to 28.72 per cent in Q1FY16. The company's profit before tax (PBT) too increased by 28.48 per cent from Rs 37.99 crore in Q1FY15 to reach Rs 48.81 crore in Q1FY16 and its PBT margin expanded by 82 basis points to reach 28.95 per cent for the same period. Its other income includes write back of excess provision for expenses of Rs 2.56 crores in Q1FY16. While, its profit after tax (PAT) margin contracted by 115 basis points to reach 19.67 per cent in Q1FY16.

JUSTDIAL's Board of Directors has approved the proposal to buyback the fully paid-up equity shares of face value of Rs 10 each from the shareholders of the Company on a proportionate basis through Buy-back. The Buy-back shall be up to 25 per cent of the aggregate of paid-up capital and free reserves of the Company at a maximum price Rs 1550 per Equity Share, subject to the approval of the shareholders of the Company and approvals of statutory, regulatory or governmental authorities as may be required under applicable law.

JUSTDIAL has also initiated the ‘Search Plus’ Services for the users, which will be launched by September. Through these serivces the company intends to provide an online platform to thousands of SME’s to get them discovered and transacted.