Just Dial shares tank close to 6% after firm's decline in Q3 profit

AgenciesUpdated: Wednesday, January 19, 2022, 12:12 PM IST
article-image
The stock declined 5.78 percent to Rs 791 on the BSE. At the NSE, it tumbled 5.90 percent to Rs 790./ Representative image |

Shares of Just Dial on Wednesday dipped nearly 6 percent after the company's consolidated net profit declined by 61.2 percent for the quarter ended in December 2021.

The stock declined 5.78 percent to Rs 791 on the BSE.

At the NSE, it tumbled 5.90 percent to Rs 790.

Just Dial on Tuesday said its consolidated net profit declined by 61.2 percent to Rs 19.4 crore for the quarter ended December 2021. The company's net profit stood at Rs 49.9 crore in the year-ago period.

Its net revenue from operations dipped 6.2 percent to Rs 158.89 crore in the October-December 2021 quarter, from Rs 169.54 crore in the year-ago period.

The company said it has ramped up hiring across critical functions such as technology, content, sales, and marketing teams which has resulted in higher employee expenses. In the sales department, headcount was up 18.3 percent sequentially.

''These investments should result in superior product offerings and higher monetization going forward,'' Just Dial said.

(With inputs from PTI)

(To receive our E-paper on whatsapp daily, please click here. To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

RECENT STORIES

With Aryan Khan getting clean chit from NCB, FPJ presents his friend Arbaaz Merchant’s statements...

With Aryan Khan getting clean chit from NCB, FPJ presents his friend Arbaaz Merchant’s statements...

WT20 Challenge final: Supernovas beat Velocity in thriller to clinch title despite Laura Wolvaardt's...

WT20 Challenge final: Supernovas beat Velocity in thriller to clinch title despite Laura Wolvaardt's...

Mumbai: No water supply in western suburbs on THIS date

Mumbai: No water supply in western suburbs on THIS date

Cordelia Cruise drug bust case: Aryan Khan's older ‘weed’ chats ignored by SIT

Cordelia Cruise drug bust case: Aryan Khan's older ‘weed’ chats ignored by SIT

Western Railway to de-reserve some general class coaches in specifed trains to deal with summer rush...

Western Railway to de-reserve some general class coaches in specifed trains to deal with summer rush...