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JustDial’s paid campaigns up 17% but net profit down by 26.8%

JustDial

Online classifieds and ecommerce company JustDial has reported an increase in the number of campaigns from paid advertisers, to around 408,800, up 17% year on year from 349,800 campaigns as of September 30, 2015. Last quarter, it had reported 389,400 campaigns from paid advertisers. Campaigns are essentially paid featured listings/recommendations on JustDial’s search.

Operating revenue for the company grew 10% to Rs 180.32 crore for the quarter ended June 30, up from Rs 163.86 crore in the same quarter last year. On a sequential basis, revenues increased marginally from Rs 176.29 crore. Divide the operating revenue by the number of campaigns, and it appears Justdial made Rs 4410 per paid campaign, down from Rs 4870 per paid campaign in the last quarter.

The company reported a significant decline in profit: Net profit stood at Rs 29.62 crore, down 26.8% from Rs 40.49 crore in the same quarter last year. On a sequential basis, net profit decreased 23.9% from Rs 38.93 crore.

JustDial’s employee count decreased to 11,799, from 11,932 last quarter. However, employee costs increased to Rs 111.67 crore, up around 3% from Rs 108.51 crore the last quarter. Employee expenditure accounts for 66.43% of total costs for JustDial. Apart from the increase in employee expenditure, there was also a year-on-year increase in “other expenses”, depreciation and amortization expenses, and a decline in other income.

JustDial has around 30 businesses under “Search Plus”, but doesn’t see that a future source of revenue.

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JustDial’s Omni business

JustDial hasn’t yet released data for its Omni business, which is an inventory management product it introduced to help small businesses manage their online and offline sales. Last quarter, the Omni business had reported Rs 5.5 crore in revenues, with 6,000 businesses signed up, of which revenue was being recognized for about 2000 contracts. The revenue mix then was roughly split 30:70 for upfront payment and monthly payment.

JustDial Wallet

JustDial recently got an approval to launch a Semi Closed prepaid wallet license in India, probably the last to get such an approval. The Reserve Bank of India has left wallets in a limbo, restricting their ability to raise funds, and is taking another look at how the wallets are being run.

Download: Financials

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Written By

Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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