The drop in share price comes after Justdial’s net profit declined 14.3% to INR 131.50 Cr in the quarter ended December 31, 2024 (Q3 FY25) from INR 154 Cr in the last quarter (Q2 FY25)
On a year-on-year (YoY) basis, the company reported a 42.7% increase in its net profit in the quarter under review
Justdial’s shares recouped some of its losses and was trading at INR 948.40 apiece at the time of writing
The shares of Reliance Retail-owned hyperlocal search engine Justdial nosedived 8.94% to INR 942.05 on BSE during intraday trading today (January 13).
This comes close on the heels of Justdial’s net profit declining 14.3% to INR 131.50 Cr in the quarter ended December 31, 2024 (Q3 FY25) from INR 154 Cr in the last quarter (Q2 FY25).
However, on a year-on-year(YoY) basis, the company reported a 42.7% increase in its net profit in the quarter under review.
In its reasoning for the sequential decline, Justdial said that the dip was on expected lines due to “impact of festival weeks” during the quarter.
Justdial’s shares recouped some of its losses and was trading at INR 948.40 apiece at the time of writing. The company’s market capitalisation stood at INR 8,065.22 Cr at the same time (1:09 PM).
Justdial’s year-to-date (YTD) return declined over 5% and the five day return was down by 9.42%.
The drop in Justdial’s share price coincided with a slowdown in benchmark indices with Nifty 50 trading 1.47% lower at 23,085.95 and BSE Sensex 1.36% down at 76,330.01 at the time of market’s closing today.
In the third quarter of the current fiscal, Justdial’s net revenue from operations stood at INR 287.33 Cr, up 8.4% YoY and 0.9% QoQ.
“Our focus remains on driving top line growth while maintaining operational efficiency, as reflected in our Q3 results, ” Justdial’s chief growth officer Shwetank Dixit said.
Founded in 1993 by VSS Mani, Justdial forayed into the online search engine space in 2007 with the launch of its website. It operates a local search firm that provides both B2C and B2B listings of small and medium businesses across India.
In 2021, Reliance Retail acquired a controlling stake of 65% in Justdial while the original promoter Mani still owns a 10% stake in the company.
Last month, Maharashtra goods and services tax (GST) department conducted searches at Justdial’s corporate office in Mumbai. The search operation was conducted under Section 67(1) and 67(2) of Maharashtra GST Act, 2017, the company said in a filing.
