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For the quarter ended March 2015, the net sales have increased by 26% to Rs 156.28 crore. As of March 31, 2015, the company was conducting approximately 3,31,200 campaigns for paid advertisers as compared to 2,62,150 campaigns as of March 31, 2014, representing a Y-o-Y growth of 26%. The database consisted of approximately 15 million listings as compared to 11.8 million listings as of March 31, 2014 representing a Y-o-Y growth of 27%. The Company currently has 24 search plus services live on the platform. OPM decreased by 298 bps to 27.1% due to increase in employee cost. The profit before tax and EO has increased by 39% to Rs 63.62 crore. The net profit increased by 38% to Rs 47.16 crore due to rise in top-line, other income and fall in tax rate.
Company's Standalone Performance
For quarter ended March 2015
The net sales have increased by 26% to Rs 156.28 crore.
As of March 31, 2015, the company was conducting approximately 3,31,200 campaigns for paid advertisers as compared to 2,62,150 campaigns as of March 31, 2014, representing a Y-o-Y growth of 26%. The database consisted of approximately 15 million listings as compared to 11.8 million listings as of March 31, 2014 representing a Y-o-Y growth of 27%. The Company currently has 24 search plus services live on the platform
OPM decreased by 298 bps to 27.1% due to increase in employee cost by 540 bps to 55.7% of net sales. The operating profit increased by 13% to Rs 42.36 crore.
At the end of the quarter, the company had 9533 employees.
Other income has inclined by 111% to Rs 27.23 crore. Depreciation inclined by 37% to Rs 5.97 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 and EO has increased by 39% to Rs 63.62 crore.
EO expense for the quarter stood at Rs 3.33 crore. The company has inadvertently recognized revenue of Rs 4.27 crore during September 2014 quarter from differed revenue which has to be deferred at September 30, 2014. Of this Rs 0.21 crore related to December 2014 quarter and Rs 0.73 related to the quarter March 2015 and balanced of Rs 3.33 crore is deferred at March 31, 2015 and disclosed as prior period adjustment.
Tax outgo increased by 12% to Rs 13.13 crore. Tax rate has decreased from 25.6% to 20.6% on Y-o-Y. The net profit increased by 38% to Rs 47.16 crore due to rise in top-line, other income and fall in tax rate.
For the financial year ended March 2015
The net sales have increased by 28% to Rs 589.80 crore. OPM has declined by 272 bps to 28.1% due to rise in employee cost. The operating profit has inclined by 17% to Rs 165.79 crore.
Other income inclined by 22% to Rs 48.85 crore. Depreciation has increased by 39% to Rs 24.10 crore. The profit before tax has increased by 16% to Rs 190.54 crore.
Total tax outgo has increased by 17% to Rs 51.65 crore. Tax rate has increased from 26.8% to 27.1%. The net profit has increased by 15% to Rs 138.89 crore due to rise in top-line.
Management Comment:
Mr. V.S.S. Mani, MD & CEO, Just Dial Ltd said:
We have witnessed another solid year of growth and profitability. We continue to invest in building a great search plus product and we are now ready for the commercial launch of the same. We are confident that the Indian consumer will experience an easier, convenient, efficient way to perform online transactions and in the process save money and time, all on our single app/platform.
Other Developments
Cash and Investments totaling to Rs 815 crore as at March 31, 2015 as compared to Rs 663 crore as at March 31, 2014
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.
The board of director hs proposed a dividend of Rs 2 per share.
Valuation
The stock is trading at Rs 1139.05 at BSE.
The promoter has pledged 0.43% of total shareholding of promoter & promoter group of the company.
The promoters hold 32.78% stake in the company.
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