Just Dial shares plunge 13% as earnings disappoint

Press Trust of India Posted online: Tuesday, Jan 28, 2014 at 0000 hrs
Mumbai : Shares of local search engine Just Dial today came under intense selling pressure, falling 13 per cent, as its quarterly earnings failed to meet market expectations.

Just Dial's scrip tanked 12.59 per cent to settle at Rs 1,287.85 on the BSE. During the day, the stock slumped 17.38 per cent to Rs 1,217.20.

At the NSE, the stock nosedived by 13.04 per cent to close the day at Rs 1,288, after falling over 18 per cent during the day trade.

On the volumes front, 5.90 lakh shares of the company changed hands on the BSE, while over 25 lakh shares were trade at the NSE.

The company has reported net profit of Rs 29.8 crore, up 3.8 per cent, as against net profit of Rs 28.7 crore, quarter-on-quarter.

Revenues increased 6.4 per cent to Rs 119.9 crore from Rs 112.7 crore, Q-o-Q.

The overall equity market was also weak with the BSE benchmark index, Sensex, ending 23.94 points lower at 20,683.51.