December 2013 quarter performance

Sales for the quarter ended December 2013 jumped 26% to Rs 119.86 crore.

OPM improved 290 basis points from 25.0% to 27.8% which saw OPM rising 40% to Rs 33.34 crore.

Other income jumped 219% to Rs 11.08 crore. There was no interest cost as the company is debt free.

As deprecation rose 5% to Rs 4.25 crore, PBT jumped 73% to Rs 40.17 crore.

Provision for taxation was up 45% to Rs 10.42 crore. Finally PAT jumped 86% to Rs 29.75 crore.

Nine month performance

Sales for the nine month ended December 2013 grew 27% to Rs 337.08 crore.

OPM improved 330 basis points from 27.8% to 31.1% which saw OPM rising 43% to Rs 104.83 crore.

Other income jumped 277% to Rs 27.06 crore. Other income for the nine months period ended December 31, 2013, includes gain on sale of mutual funds which is presented net off mark to market loss on current investments (mutual fund) of Rs 0.99 crore. Interest cost was nil.

As deprecation rose 27% to Rs 12.93 crore, PBT jumped 73% to Rs 118.96 crore.

Provision for taxation was up 49% to Rs 32.50 crore. Finally PAT jumped 84% to Rs 86.46 crore.

Investment in tax free Bonds

During the quarter, the company has paid an advance of Rs 125 crore towards application for Tax-free Bonds having long term maturity. Subsequent to the quarter end, of the total advance, bonds worth Rs. 54.70 crore has been allotted and balance has been refunded to the company. Further, subsequent to quarter end, the company has further applied for Tax free bonds of Rs 100 crore.

"Launched a number of new products in the ‘Search Plus' services"

During the quarter ended December 31, 2013, the Company has launched its 'Search Plus Services' to enable its users to undertake several day-to-day tasks conveniently on a single platform.

"We witnessed another quarter of good revenue growth and margin expansion. We have launched a number of new products in the ‘Search Plus' services and have begun the process of engagement with our SME partners for those services. With other ‘Search Plus' products in the pipeline, we intend to cover almost a whole range of day to day tasks that users conduct and provide them with a seamless search and transaction experience on a single platform," Just Dial managing director and CEO, VSS Mani, said

Usage from the users of its search services

Just Dial received approximately 115.6 million usage (representing PC/Mobile internet visits) from the users of its search services in Q3FY14 as compared to 92.1 million in Q3FY13 and , representing a year on year growth of 25%. This represented approximately 274.9 million searches in Q3 FY14 as compared to 193.2 million in Q3 FY13 and 291.8 million searches in the quarter ended September 31, 2013.

Internet platform (both PC and mobile) contributed 67% of total usage in Q3 this year, compared to 61% in the same quarter in the previous year but sequentially this declined from 68% in Q2. Of this, mobile visits contributed to 22% of total usage in Q3 FY14 vs 12% in Q3 FY13 and 20% in Q2 FY14.

Campaigns details

As of December 31, 2013, the company was conducting approximately 249,600 campaigns for its paid advertisers as compared to 195,100 campaigns as of December 31, 2012, representing a year on year growth of 28% and sequential growth of 4.6%. In the previous quarter the sequential growth was 7%.

Listings

Just Dial's database consisted of approximately 10.8 million listings as of December 31, 2013, compared with 8.8 million listings in the same time the previous year, representing a growth of 22.7%.

IT/ITES-BPQ and Software Development Centre in Bangalore

In October 2013, the company received an order from Government of Karnataka permitting the company to establish an IT/ITES-BPQ and Software Development Centre at IT/ITES Park, Devanahalli Industrial Area in Bangalore (the 'Project') by August 2015. The Company has sought certain clarifications regarding the order from Kamataka Industrial Area Development Board (KIADB). During the quarter, the Company has paid an advance of Rs.7.5 crore to KIADB towards the project.

Valuation

The share price dived 13% to Rs 1288 a day after the results were announced but recovered large part of the loss when it went up by 9% to Rs 1404 the following day.