Just Dial share price slid as much as 12 per cent on Thursday after the company reported lower-than-expected second quarter earnings on Wednesday post market hours.
Just Dial share price slid as much as 12 per cent on Thursday after the company reported lower-than-expected second quarter earnings on Wednesday post market hours. For the quarter ended September 30, 2015, the company posted net profit of Rs 46.30 crore, up 47.03 per cent, against Rs 31.49 crore in the corresponding quarter a year ago. Net sales of the company jumped 16.19 per cent year-on-year to Rs 171.27 crore.
The share price of Just Dial closed 11.37 per cent down at Rs 854.75 on Thursday.
“Just Dial reported 2Q results that were below our expectations on both revenues and margins but ahead on PAT, driven by higher other income. We believe the stock will react negatively on these results, given the paid listings grew by a meagre 0.8 per cent q-q (vs est. of 6 per cent q-q), which led to the revenue disappointment,” said, Nomura in a research report.
The promoters holding in the company stood at 32.58 per cent while institutions and non-institutions held 42.64 per cent and 22.54 per cent respectively.
Just Dial is one of the leading local search engines in India. It provides users search services with information and user reviews from its database of local businesses, products and services across India.