Local search engine Just Dial has reported a 47.03 per cent surge in its net profit at Rs 46.30 crore for the quarter ended September 30, on rise in income.
The company had clocked a profit of Rs 31.49 crore in the year ago period.
Total income from operations rose to Rs 171.27 crore in the July-September quarter of the current financial year from Rs 147.40 crore in the year ago period, the company said in a regulatory filing today.
The company’s board also approved the allotment of 27,259 equity shares of face value of Rs 10 each to certain employees of pursuant to exercise by such employees of vested options granted to them under the Employee Stock Option Scheme, 2010 and Employee Stock Option Scheme, 2013.
Just Dial has also 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 years to establish an IT/ITes in Bangalore.
- The stocks heads towards its biggest one-day fall since August 24.
- Q2 earnings adjusted for other income lag consensus estimates.
- The company’s second quarter earnings rose 39.6 per cent q/q to Rs 46.3 crore ($7.11 million).
- During the second quarter, other income rose 268.8 per cent q/q to Rs 26.26 crore.
- Paid listings grew by a meagre 0.8 per cent q/q vs estimate of 6 per cent growth which led to revenue disappointment, according to analysts.
- Delay in the launch of Search Plus commercial advertising are also seen as a negative.
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