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Internet Accounts For 66% of JustDial’s Search Requests In Q1-FY14; The Challenge

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Online and telephone business listings service JustDial has conducted 2.22 lakh paid campaigns (2,21,500 campaigns) for advertisers for the quarter ending June 30, 2013 (Q1-FY14), up 22% from 1.81 lakh campaigns (1,81,000 campaigns) in the same quarter last year. Campaigns are essentially paid featured listings that appear on JustDial’s search results.

The company claims to have a total 9.5 million listings as of June 30, 2013, up from 9.1 million listings in the previous quarter and up 23% from 7.7 million listings in the same quarter last year.

Internet Search Requests: JustDial reported 56.4 million Internet search requests for the quarter, up 31% from 43 million requests in Q1-FY13. Mobile Internet accounted for 19.5 million of search requests during the quarter, up 148% from 7.9 million in Q1-FY13 and the combined Internet platform (both PC & Mobile) accounted for 75.9 million of the search requests during the quarter, up 49.1% from 50.9 million search requests in Q1-FY13.

Internet platform contributed for 66% of total search requests for the quarter which was at 115.2 million search requests, up 36% from 84.7 million in Q1-FY13. The company currently offers a search service across Internet, Mobile Internet, Telephone (voice) and SMS.

Voice: Voice search requests were at 39.3 million for the quarter, up 17% from 33.7 million in Q1-FY13. The company hasn’t disclosed the total SMS search requests for quarter. Last month, JustDial had informed that it had registered 0.9 million SMS search requests for the fiscal FY13, up 47% from 0.6 million in FY12.

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Financials

JustDial posted a net profit of Rs 28.04 crore for the quarter, up 69% from Rs 16.64 crore profit in the same quarter last year. The operating revenues were at Rs 104.6 crore for the quarter, up 28% from Rs 81.7 crore in Q1-FY13. Its worth noting that this is JustDial’s first quarterly earnings report, after the company IPO’d in June 2013.

The operating EBITDA increased to Rs 36.25 crore, up 45% YoY from Rs 25 crore in Q1-FY13 and the operating EBITDA Margin increased to 35% from 31% In Q1-FY13. The PAT (profit after tax) margin was at 25% for the quarter, up from 20% in Q1-FY13. JustDial has 8,097 employees as of June 30, 2013.

JustDial’s Challenge

With a majority of its usage coming from the Internet, the challenge for JustDial will be to monetize its Internet base, since most of their money currently comes from offline segment where they seem to have minor traction. Therefore, as the online usage surges further in the next couple of years, it will be critical for JustDial to figure out how it monetize its web offerings.

In addition to this, JustDial will also need to focus on generating revenues from its mobile offerings, which has witnessed a massive growth over the past year and is currently contributing for a significant amount (around 34%) of its total search requests.

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Download: Press Release | Financials

RelatedJustDial In FY13: 2.07M Paid Listings; 62% Internet Search Requests; Rs 68.5 Cr Profit

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