The going gets better for Just Dial in Q2 FY18, operating margin improves 8%
, ET Bureau|
Updated: Nov 06, 2017, 09.27 PM IST
Local search engine Just Dial is slowly but steadily regaining its lost strength. The Mumbai-based online classifieds platform clocked a 7.9% growth in standalone operating revenues at Rs 194.4 crore in Q2FY18.
A 37.1% rise in traffic on the platform also helped add some weight to margins with operating EBITDA growing 76.5% to Rs 39.6 crore as compared to last year. The operating EBITDA margin for the company stood at 20.4% signifying a 792 bps growth on an annual basis and 327 bps on a sequential basis.
However some mild pressure continues to stay on the bottomline with net profit declining 1.8% to Rs 37.4 crore sequentially albeit clocking an increase 26.5% since last year.
Just Dial also closed its share buyback worth Rs 83.85 crore, which was approved in July, buying back 22,41,000 equity shares at an average price of Rs 374.18 per share.
Just Dial, has been battling a growth slide over the last 3 years, with the onslaught of vertical players in high ticket categories such as food delivery, doctor searches, ticket bookings.
While total active listings on the platform grew 17% annually at 19.8 million, paid listings grew only 0.9% sequentially at 4,39,700 in Q2FY18. About 66% of the transactions for the platform took place on the app, cumulative downloads of which stood at 17.3 million
A 37.1% rise in traffic on the platform also helped add some weight to margins with operating EBITDA growing 76.5% to Rs 39.6 crore as compared to last year. The operating EBITDA margin for the company stood at 20.4% signifying a 792 bps growth on an annual basis and 327 bps on a sequential basis.
However some mild pressure continues to stay on the bottomline with net profit declining 1.8% to Rs 37.4 crore sequentially albeit clocking an increase 26.5% since last year.
Just Dial also closed its share buyback worth Rs 83.85 crore, which was approved in July, buying back 22,41,000 equity shares at an average price of Rs 374.18 per share.
Just Dial, has been battling a growth slide over the last 3 years, with the onslaught of vertical players in high ticket categories such as food delivery, doctor searches, ticket bookings.
While total active listings on the platform grew 17% annually at 19.8 million, paid listings grew only 0.9% sequentially at 4,39,700 in Q2FY18. About 66% of the transactions for the platform took place on the app, cumulative downloads of which stood at 17.3 million
