Just Dial Close in Red, Despite 37.5% Surge in Q2 Net Profit

Just Dial Close in Red, Despite 37.5% Surge
Just Dial Close in Red, Despite 37.5% Surge in Q2 Net Profit

by Tanushree Jaiswal Last Updated: Oct 23, 2023 - 06:27 pm 432 Views
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Just Dial, a multi-platform local search engine connecting buyers and sellers, reported its Q2FY24 results on October 20, 2023. At the opening on the National Stock Exchange (NSE) on October 23, the company's shares gained 0.5 percent. However, by 3:30 pm, the stock had lost nearly 1.5% and was trading at ₹738.90

Financial Highlights

For the quarter ending September 2023, Just Dial reported impressive financial results. Comparing the results to the previous year, Just Dial saw a substantial 37.6% YoY rise in net profit, reaching ₹71.7 crore for the quarter that ended on September 30, 2023. In the same quarter of the previous year, the company had posted a net profit of ₹52.1 crore.  Total revenue for the quarter stood at ₹260.6 crore, marking a 27% increase compared to ₹205.2 crore in the corresponding period of the previous fiscal year.

EBITDA ( earnings before interest, taxes, depreciation, and amortization surged by 186.3% to ₹48.8 crore. EBITDA margin expanded to 18.7% for the July-September period of FY2024, compared to 8.3% for the previous fiscal year. Earnings per Share (EPS) increased to Rs. 8.44 in September 2023 from Rs. 6.19 in September 2022.

Operational Highlights

Just Dial's performance in terms of user engagement and paid campaigns also saw positive trends. In Q2FY24, the company reported a 9.7% year-on-year growth in traffic, with 17.17 crore unique users in the September 2023 quarter. Active paid campaigns grew by 11.3% to 560,830. Just Dial has a presence over 11 cities across the country.

Stock Performance

In the last month, the share price of Just Dial has gone up by nearly 1%. Over the past six months, the stock price has grown by 11%, and in the one-year time frame, it has provided a 23% return to investors. If we look at a broader perspective, over the last five years, Just Dial has given an impressive 69% return to its investors.


Just Dial is the dominant player in India's local search engine industry, offering a wide array of local search-related services to users throughout the country. Their services are accessible through various platforms, including mobile apps (for both Android and iOS), mobile websites, desktop/PC access, and even voice and text-based interfaces. This multi-platform approach ensures that users can access information about local businesses and services in a way that's convenient for them, making Just Dial a comprehensive and accessible resource for all.

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About the Author

Tanushree is a seasoned professional with 6 years of experience in the Fintech and Edtech industry.


Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
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