Just Dial Hits New 52-Wk High on Stellar Q1 Show, EBITDA Margin Soars 1,033 Bps

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Just Dial Hits New 52-Wk High on Stellar Q1 Show, EBITDA Margin Soars 1,033 Bps
Credit: © Reuters.

By Malvika Gurung

Investing.com -- Shares of India’s leading local search engine firm Just Dial (NS: JUST ) surged 5.47% to hit a new 52-week high of Rs 879 apiece on Monday, following a stellar bottomline growth in the quarter ended June 30, 2023.

The internet technology company reported a net profit of Rs 83.4 crore in the first quarter of the financial year 2023-24, compared to a loss of Rs 48.4 crore in the same period last year, scaling a whopping 272.46% rally on a year-on-year (YoY) basis.

The net profit dipped marginally by 0.5% on a sequential basis in the June quarter from Rs 83.8 crore in the preceding quarter.

Just Dial’s revenue in the June quarter surged 33.1% YoY to Rs 247 crore and gained 6.2% on a quarter-on-quarter (QoQ) basis. 

Its operating EBITDA skyrocketed 336.9% on a YoY basis and 9.8% sequentially to Rs 36.7 crore in Q1 FY24, while the EBITDA Margin soared 1,033 basis points to 14.9% in the quarter under focus from 4.5% in the year-ago period, and rose 49 bps on quarter.

The small-cap company’s net profit margin jumped significantly to 33.8% in Q1 FY24 from -26.1% in the corresponding quarter of the previous year, however, declined by 227 bps QoQ from 36% in the March 31, 2023 ended quarter.

Just Dial recorded a 15.9% YoY rise in traffic during the quarter under review at 17.14 crore users, while its mobile traffic grew by 17.5% on a YoY basis.

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