Just Dial Ltd, a local search engine, has reported an over two-fold jump in its consolidated net profit to Rs 154 crore in the second quarter.
It had a net profit of Rs 71.79 crore in the July-September quarter a year ago, according to a regulatory filing by Just Dial, now controlled by Reliance Retail Ventures Ltd.
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Just Dial’s revenue from operation was Rs 284.83 crore in the September quarter. It stood at Rs 260.61 crore a year ago.
“This quarter, the company achieved record revenue of Rs 284.8 crore, marking an impressive year-on-year (YoY) increase of 9.3 per cent. These results highlight Just Dial’s dedication to delivering superior digital solutions for both businesses and consumers alike,” according to an earnings statement by the company.
Its total expenses were Rs 216.88 crore in the September quarter versus Rs 226.43 crore in FY24.
Total income during the quarter under review stood at Rs 398.44 crore compared to Rs 318.53 crore in the year-ago period, it added.
Its Chief Growth Officer Shwetank Dixit said Just Dial demonstrated sustainable and profitable growth through a razor-sharp focus on core products and operational efficiency.
“Our innovative, integrated marketing campaigns – spanning digital and traditional channels like web, print, social media, physical meetup and email – have successfully boosted our engagement with vendors. We are not only achieving new revenue milestones but are also making significant investments in advanced technologies, including AI, to further enhance the value we deliver to both users and businesses,” he said.
In the past few quarters, Just Dial has made significant progress in expanding its reach and enhancing its offerings by focusing on three key areas.
It strengthened its service marketplace by providing information and catalogues, increasing service catalogue creation by 10x in the past 15 months.
“This quarter, Just Dial’s active business network grew to 46.2 million, and the number of platform visitors reached 198.0 million, representing a YoY increase of 15.3 per cent,” it said.
Just Dial has been exploring new digital customer acquisition channels.
“Some of these have shown immense promise and will be scaled in FY25 with an increased budget and resource allocation. Finally, B2B remains a priority. In addition to focusing on improving the product offering, efforts are on to onboard more vendors through partnerships with channel partners and streamlined service catalogue creation using Gen AI,” it said.
Shares of Just Dial Ltd on Friday settled 2.96 per cent higher at Rs 1,307.10 apiece on the BSE.
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First Published: Oct 11 2024 | 6:20 PM IST
