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For the quarter ended September 2016, sales have increased by 10% to Rs 180.32 crore. OPM decreased by 688 bps to 12.4%. The net profit decreased by 27% to Rs 29.62 crore due to fall in margin.
Company's Standalone Performance
For quarter ended September 2016
The net sales have increased by 10% to Rs 180.32 crore. As of September 30, 2016, the company is conducting approximately 4,08,800 campaigns for paid advertisers as compared to 3,49,800 campaigns as of September 30, 2015 representing a Y-o-Y growth of 17% . The database consisted of approximately 16.9 million listings as compared to 15.8 million listings as of September 30, 2015 representing a Y-o-Y growth of 7%. The company currently has over 30 search plus services live on the platform
OPM decreased by 688 bps to 12.4% due to increase in employee cost and other expenses. The operating profit decreased by 29% to Rs 22.44 crore.
As of September 30, 2016 the company had 11,799 employees.
Other income has declined by 1% to Rs 26.01 crore. Depreciation inclined by 29% to Rs 10.20 crore. The profit before tax has decreased by 24% to Rs 38.25 crore.
Tax outgo decreased by 11% to Rs 8.63 crore. Tax rate has increased from 19.2% to 22.6% on Y-o-Y. The net profit decreased by 27% to Rs 29.62 crore due to fall in margin.
For half year ended September 2016
The net sales have increased by 8% to Rs 356.61 crore. OPM has declined by 880 bps to 14.5%. The operating profit has declined by 33% to Rs 51.70 crore.
Other income inclined by 37% to Rs 54.67 crore. Depreciation has increased by 31% to Rs 19.16 crore. The profit before tax has decreased by 15% to Rs 87.21 crore.
Total tax outgo has decreased by 27% to Rs 18.66 crore. Tax rate has decreased from 25.1% to 21.4%. The net profit has decreased by 10% to Rs 68.55 crore.
Management comment
Mr. V.S.S. Mani, MD & CEO, Just Dial Ltd said: "We are seeing encouraging signs on the growth front from steps that we initiated in the past few quarters and we expect the momentum to strengthen. We remain confident of getting back to a sustainable growth trajectory in the coming quarters."
Other Developments
The Board of Directors on August 16, 2016 have approved the scheme of arrangement between the company and Just Dial Global Private Limited (JDGPL) involving demerger of the Data and Information undertaking of JDGPL ('Demerged undertaking") and vesting of the same in Just Dial, as a going concern under the Companies Act 20l3.In October 2016, the company has received no objection letter from stock exchanges.
Valuation
The stock is trading at Rs 424.25 at BSE.
The promoters hold 33.15% stake in the company.
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