Just Dial rises 11 per cent on the back of Q2 performance

Local search engine company, Just Dial surged 11 per cent in early trade on Tuesday on the back of improved quarterly financial performance.

The company reported a 29 per cent growth in net profit to Rs. 48.38 crore in Q2FY19 versus Rs. 37.46 crore in Q2FY18. Revenue shot to Rs. 221.03 crore in Q2FY19 from Rs. 194.47 crore in Q2FY18, thereby registering a growth of 13.65 per cent. The increase in revenue can be attributed to paid campaigns and increase in realizations.

The operating EBITDA stood at Rs. 57.5 crore, up 45 per cent. Similarly, adjusted operating EBITDA margin, excluding ESOP expenses, stood at 28.6 per cent, up 650 bps on a YoY basis.

Just Dial reported a healthy unique visitor growth of 25 per cent YoY. The performance in Q2FY19 was enhanced as the company reported one of the highest ever net additions to paid campaigns. The net income rose on account of other income and lower tax rates.

On Tuesday, the shares of Just Dial Limited opened at Rs. 467.00 per share and hit a high and low of Rs. 507.70 per share and Rs. 467.00 per share. At 11:16 am, the stock was trading at Rs. 483.00 per share, up 5.96 per cent.