Just Dial Ltd shares rose over five percent on April 18 as the company reported solid revenue and ongoing margin improvement for the January-March quarter.
The overall profit of the local results search engine was greater than predicted due to an increase in unique visitors, active lists, and paid advertisements on its platform. As per the corporation, 15.9 billion unique people used the website between January and March, rather than 15.7 billion between October and December. According to the corporation, the figure rose for the 5th straight quarter.
At 11.31 a.m., the stock price of Just Dial was Rs 680.50 for each share, up 5% from the previous BSE closing.
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Just Dial's net profit increased by 11% to Rs 83.6 crore in the 4th quarter of the fiscal year 2023, compared to Rs 75.3 crore from the previous quarter. The total revenue for the 4th quarter rose by 5% to Rs 232.5 crore from Rs 221.4 crore.
The adjusting margin of profits before interest, tax, depreciation, and amortization rose significantly in the March quarter to 15.3 percent from a negative 0.5% at the end of 2021-22 (April-March).
In the past 3 years, the stock has increased by more than 90 %. However, the share price has dropped by more than 21% in the last year.
Since Reliance Retail purchased a nearly 67 percent share in Just Dial in July 2021, the company's profit has been steadily climbing. Just Dial finished fiscal 2023 with a total net profit of Rs 162.7 crore, up from Rs 70.8 crore in FY22.
