Just Dial Q4 net profit rises 21.6% to Rs 76.1 crore

The company had posted a net profit of Rs 62.5 crore in the same period a year ago, Just Dial said in a regulatory filing.

Digital directory firm Just Dial on Monday posted a 21.6 percent increase in consolidated profit to Rs 76.1 crore for the March 2020 quarter.

The company had posted a net profit of Rs 62.5 crore in the same period a year ago, Just Dial said in a regulatory filing.

Revenue from operations increased by 1.2 percent to Rs 234.9 crore during the reported quarter from Rs 232.3 crore in the corresponding period of 2018-19.

The company said its business was impacted due to nationwide lockdown owing to the COVID-19 pandemic.

"As a result of the lockdown imposed by the Government of India owing to pandemic COVID-19, the company closed its offices from March 23, 2020 and moved to concept of Work from Home (WFH) for all employees. Post recent lockdown relaxations, the company has started opening offices in certain geographies with limited workforce in line with Government's directives issued as on date," it said.

The company is extensively leveraging technology for its operations and focusing on cash preservation and augmentation, it added.

"While the company has a strong balance sheet and robust cash position, the company has initiated steps to re-evaluate all costs to enable it to successfully navigate the ongoing uncertainties," it said.

The total traffic (quarterly unique visitors) in the fourth quarter stood at 138.9 million users, a drop of 0.1 percent YoY and 11.5 percent sequentially. Its cash and investments stood at Rs 1,591.3 crore as on March 31, 2020, up 19.6 percent YoY.

The total active listings stood at 29.4 million at the end of March 31, 2020, an increase of 14.1 per cent YoY and 2.7 percent sequentially. A total of 7,76,360 listings (net) were added to the database during the quarter. Active paid campaigns at the end of quarter stood at 5,36,236, up 7.1 percent YoY and 0.2 percent sequentially.

On April 30, 2020, Just Dial's Board of Directors had approved buyback of up to 31,42,857 shares for up to Rs 220 crore on a proportionate basis through tender offer route at a maximum price of Rs 700 per share.

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