Just Dial shares surged over 8% in early trading on April 18, following the company’s announcement of its results for the January to March 2024 quarter.
At 11:27 am, Just Dial’s share price soared by 10.43% to Rs 984.05 on the NSE. Over the past month, the stock has soared by 25%, outperforming the benchmark Sensex which rose by 0.79% during the same period.
The surge on Thursday came after the firm reported 38.44% increase in consolidated net profit to Rs 115.74 crore in the fourth quarter ended March 31, 2024 up from the consolidated net profit of Rs 83.6 crore in the corresponding period of the previous fiscal year, as per regulatory filings.
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Just Dial’s operating revenue also demonstrated strong growth, reaching Rs 270.3 crores, up 16.2% year-on-year and 2% quarter-on-quarter. The operating EBITDA stood at Rs 70.6 crore with an EBITDA margin of 26.1%.
According to the company, the expansion in EBITDA margin was driven by both topline growth and cost efficiencies, particularly in employee costs and other expenses.
Consolidated total income for the quarter amounted to Rs 361.56 crore compared to Rs 306.69 crore in the year-ago period. Total expenses in the fourth quarter were marginally higher at Rs 214.12 crore compared to Rs 210.94 crore a year ago.
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For the fiscal year ended March 31, 2024, Just Dial’s consolidated net profit surged to Rs 362.93 crore, up from Rs 162.72 crore in the previous fiscal year.
Total traffic (unique visitors) for the quarter reached 171.1 million, up 7.4% year-on-year and 3.1% quarter-on-quarter. Notably, 84.6% of the traffic originated from mobile platforms, while 12.2% came from desktop/PC, and 3.2% from the voice platform, according to the company’s statement.
