Just Dial Q3 PAT soars to Rs 75 cr

Just Dial reported a consolidated net profit of Rs 75.32 crore in Q3 FY23, steeply higher than Rs 19.39 crore posted in Q3 FY22.

Net revenue from operations stood at Rs 221.37 crore in Q3 FY23, registering a growth of 39.3% from Rs 158.89 crore recorded in the corresponding quarter previous year. Sequentially, the net sales rose 7.85% in Q3 FY23 from Rs 205.26 crore in Q2 FY23. The company said that FY22 was impacted due to covid.

Consolidated profit before tax surged to Rs 87.69 crore in quarter ended 31 December 2022 as against Rs 24.39 crore posted in Q3 FY22.

Adjusted operating EBITDA, excluding ESOP expenses, stood at Rs 29.4 crore, which was up 194% year on year (YoY) and 51.1% quarter on quarter (QoQ).

The company said that it had ramped up hiring in previous 3-4 quarters across technology, content, sales and marketing teams which resulted in higher employee expenses in recent quarters. However, operating expenses growth remained controlled in 3Q FY23 and operating leverage benefits are playing out.

Total expenses jumped 25.68% YoY to Rs 204.92 crore in Q3 FY23. Employee benefits expenses advanced 29.09% YoY to Rs 167.32 crore in Q3 FY23 over Q3 FY22.

Deferred Revenue stood at Rs 402.4 crore, up 6.3% QoQ and 23.6% YoY. Sequential growth in deferred revenue (led by 6.3% QoQ growth in collections to Rs 245.1 crore) is encouraging.

Cash and Investments aggregated to Rs 3,934.4 crore as on 31 December 2022 as compared to Rs 3,769.0 crore as on 31 December 2021 and Rs 3,818.9 crore as on 30 September 2022.

Total traffic (unique visitors) for the quarter stood at 156.8 million, up 9.8% YoY and 0.2% QoQ. 85.5% traffic originated on Mobile platforms, 10.9% on Desktop/ PC and 3.6% on the company's Voice platform.

Total active listings were at 35 million as on 31 December 2022, an increase of 11.4% YoY and 3.3% QoQ. 1,123,874 listings were added (net) to the database during the quarter. Out of total listings, 20.8 million listings were geocoded as on 31 December 2022, up 16.6% YoY. Total Images in listings stood at 131.8 million, up 16.2% YoY and up 4.1% QoQ.

Total Ratings & Reviews stood at 139.8 million at the end of quarter, up 11.6% YoY.

Active paid campaigns at the end of quarter improved to 521,880, up 19.3% YoY and 3.6% QoQ. Continued robust paid campaigns addition of 18,040 for the quarter was led by continued focus on signing up majority of customers on monthly payment plans, said the company.

Just Dial provides local search related services to users in India through multiple platforms such as Desktop/ PC website, mobile site, mobile apps (Android & iOS), over the telephone and text (SMS).

Shares of Just Dial shed 0.26% to settle at Rs 585.15 on Friday, 13 January 2023.

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