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For the quarter ended March 2016, the net sales have increased by 15% to Rs 179.61 crore. As of March 31, 2016, the company was conducting approximately 3,68,800 campaigns for paid advertisers as compared to 3,31,200 campaigns as of March 31, 2015 representing a Y-o-Y growth of 11%. As of March 31, 2016, database consisted of approximately 16.3 million listings as compared to 15.0 million listings as of March 31, 2015 representing a Y-o-Y growth of 9%. The Company currently has 30 search plus services live on the platform. OPM decreased by 205 bps to 25.1%. The net profit decreased by 25% to Rs 35.33 crore due to decline in OPM & other income and rise in deprecation & tax rate.
Company's Standalone Performance
For quarter ended March 2016
The net sales have increased by 15% to Rs 179.61 crore. As of March 31, 2016, the company was conducting approximately 3,68,800 campaigns for paid advertisers as compared to 3,31,200 campaigns as of March 31, 2015 representing a Y-o-Y growth of 11%. As of March 31, 2016, database consisted of approximately 16.3 million listings as compared to 15.0 million listings as of March 31, 2015 representing a Y-o-Y growth of 9%. The Company currently has 30 search plus services live on the platform
OPM decreased by 205 bps to 25.1% due to increase in other expenses by 330 bps to 20.5% of net sales. During the quarter, the company launched "JD OMNI". The set up fees aggregating to Rs 3.66 crore has been recognizes in the current quarter. The operating profit increased by 6% to Rs 45 crore.
At the end of the quarter, the company had 11142 employees.
Other income has declined by 43% to Rs 15.54 crore. Depreciation inclined by 41% to Rs 8.41 crore. The profit before tax and EO has decreased by 18% to Rs 52.13 crore.
EO item for the quarter was nil. Tax outgo increased by 28% to Rs 16.80 crore. Tax rate has increased from 20.6% to 32.2% on Y-o-Y. The net profit decreased by 25% to Rs 35.33 crore due to decline in OPM & other income and rise in deprecation & tax rate.
For year ended March 2016
The net sales have increased by 17% to Rs 690.83 crore. OPM has declined by 342 bps to 24.7%. The operating profit has inclined by 3% to Rs 170.54 crore.
Other income inclined by 20% to Rs 58.49 crore. Depreciation has increased by 29% to Rs 31.1 crore. The profit before tax has increased by 4% to Rs 197.93 crore.
Total tax outgo has increased by 9% to Rs 56.13 crore. Tax rate has increased from 27.1% to 28.4%. The net profit has increased by 2% to Rs 141.80 crore.
Consolidated performance for year ended March 2016
The net sales have increased by 17% to Rs 690.83 crore. OPM has declined by 339 bps to 24.7%. The net profit has increased by 2% to Rs 141.85 crore.
Management Comment:
Mr. V.S.S. Mani, MD & CEO, Just Dial Ltd said:
Our effort to scale up revenues is beginning to show results. Also with the launch of JD OMNI search plus services for small businesses, we are confident that SMEs will find it easier to seamlessly sell both online and offline and also run their businesses efficiently.
Other Developments
The company has executed an agreement with Karnataka Industrial Area Development Board (KIADB) for allotment of 15 acres of land to the company on leasehold basis for a period of 99 yrs. The company is in the process of submitting building plans and applying NOC from the authorities to commence construction.
During the quarter, the company has completed buyback of 1061499 equity shares.
During the quarter, the company has granted 35300 options to employees under ESOP scheme 2013 at the exercise price of Rs 80 per share.
Valuation
The stock is trading at Rs 702.25 at BSE.
The promoters hold 32.50% stake in the company.
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