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For the quarter ended September 2015, the net sales have increased by 16% to Rs 171.27 crore. The growth was 20% if the company had not recognized revenue from opening deferred revenue in Q2 FY15. As of September 30, 2015, the company was conducting approximately 3,49,800 campaigns for paid advertisers, representing a growth of 18%. The company's database consisted of approximately 15.8 million listings, representing a growth of 9%. The Company currently has 27 search plus services live on the platform. Total unique visitors (across Voice, PC Internet, Mobile Internet) increased by 19% to 75.9 mn. OPM decreased by 571 bps to 23.2%. The net profit increased by 47% to Rs 46.30 crore due to rise in top-line, other income and fall in tax rate.
Company's Standalone Performance
For quarter ended September 2015
The net sales have increased by 16% to Rs 171.27 crore. The growth was 20% if the company had not recognized revenue from opening deferred revenue in Q2 FY15.
As of September 30, 2015, the company was conducting approximately 3,49,800 campaigns for paid advertisers as compared to 296,100 campaigns as of September 30, 2014, representing a growth of 18%. The company's database consisted of approximately 15.8 million listings, representing a growth of 9%. The Company currently has 27 search plus services live on the platform. Total unique visitors (across Voice, PC Internet, Mobile Internet) increased by 19% to 75.9 mn.
OPM decreased by 571 bps to 23.2% due to increase in employee cost by 480 bps to 56.2% and other expenses by 100 bps to 20.7% of net sales. The operating profit decreased by 7% to Rs 39.72 crore.
At the end of the quarter, the company had 10611 employees.
Other income has inclined by 209% to Rs 26.26 crore. Depreciation inclined by 25% to Rs 7.89 crore. The profit before tax and EO has increased by 30% to Rs 58.09 crore.
Tax outgo decreased by 11% to Rs 11.79 crore. Tax rate has decreased from 29.7% to 20.3% on Y-o-Y. The net profit increased by 47% to Rs 46.30 crore due to rise in top-line, other income and fall in tax rate.
For the half year ended September 2015
The net sales have increased by 20% to Rs 339.89 crore. OPM has declined by 119 bps to 25.9% due to rise in employee cost. The operating profit has inclined by 15% to Rs 88.14 crore.
Other income inclined by 83% to Rs 33.38 crore. Depreciation has increased by 22% to Rs 14.62 crore. The profit before tax has increased by 29% to Rs 106.90 crore.
Total tax outgo has increased by 18% to Rs 27.43 crore. Tax rate has decreased from 28% to 25.7%. The net profit has increased by 33% to Rs 79.47 crore.
Management Comment:
Mr. V.S.S. Mani, MD & CEO, Just Dial Ltd said:
During the quarter, Just Dial launched new versions of its mobile app and website and we are witnessing greater user engagement on our Search Plus platform. We will continue to add more features and enhance user experience on our platform. The company has taken necessary steps to accelerate revenue growth and we expect such efforts to yield results over the next few quarters
Other Developments
Subsequent to quarter end, 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, to establish IT/ITES -BPO and Software Development Centre at IT/ITES Park, Devanahalli in Bangalore
Valuation
The stock is trading at Rs 865 at BSE.
The promoter has pledged 0.44% of total shareholding of promoter & promoter group of the company.
The promoters hold 32.58% stake in the company.
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