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For the quarter ended December 2014, the net sales have increased by 29% to Rs 154.42 crore. The company is conducting approximately 312800 campaigns for our paid advertisers as compared to 253500 campaigns as of December 31, 2013, representing growth of 23%. The database consisted of approximately 14.7 million listings, representing a growth of 35%. The Company currently has 23 search plus services live on the platform. OPM increased by 463 bps to 32.5% due to decrease in other expenses. The net profit increased by just 8% to Rs 32.14 crore due to fall in OPM, rise in deprecation & tax rate.
Company's Performance
For quarter ended December 2014
The net sales have increased by 29% to Rs 154.42 crore.
As of December 31, 2014, the company is conducting approximately 312800 campaigns for our paid advertisers as compared to 253500 campaigns as of December 31, 2013, representing growth of 23%. The database consisted of approximately 14.7 million listings, representing a growth of 35%. The Company currently has 23 search plus services live on the platform
OPM increased by 463 bps to 32.5% due to decrease in other expenses by 580 bps to16.6% of net sales. The operating profit increased by 50% to Rs 50.11 crore.
At the end of the quarter, the company had 9226 employees.
Other income has declined by 69% to Rs 3.46 crore. Depreciation inclined by 44% to Rs 6.11 crore. The company has effective from April 1. 2014 has recomputed the depreciation based on the useful life of assets as prescribed in schedule II of the Companies ACT 2013 which has resulted in rise in deprecation. The profit before tax has increased by 18% to Rs 47.46 crore.
Tax outgo increased by 47% to Rs 15.32 crore. Tax rate has increased from 25.9% to 32.3% on Y-o-Y. The net profit increased by just 8% to Rs 32.14 crore due to fall in OPM, rise in deprecation & tax rate.
For the nine months ended December 2014
The net sales have increased by 30% to Rs 436.85 crore. OPM has declined by 209 bps to 29%, due to rise in other expenses by 150 bps to 50.8% and employee cost by 60 bps to 20.2% of net sales. The operating profit has inclined by 21% to Rs 126.71 crore.
Other income declined by 20% to Rs 21.67 crore. Depreciation has increased by 40% to Rs 18.13 crore. The profit before tax has increased by 9% to Rs 130.25 crore.
Total tax outgo has increased by 19% to Rs 38.52 crore. Tax rate has increased from 27.3% to 29.6%. The net profit has increased by just 6% to Rs 91.73 crore due to fall in OPM, rise in deprecation & tax rate.
Management Comment:
Mr. V.S.S. Mani, MD & CEO, Just Dial Ltd said:
We have delivered yet another quarter of solid growth and profitability. Our strategy of building a single platform for both search and transaction is nearing commercial release. We are confident that we will be able to deliver a great search and transaction experience, on a single platform across many services, to our users
Other Developments
The company has entire shareholding in Just Dial Inc from Just Dial Global Pvt. Ltd. for a consideration of $ 72385 effective from October 1, 2014.
Valuation
The stock is trading at Rs 1579.8 at BSE.
The promoters hold 32.89% stake in the company.
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