Online classifieds and e-commerce company JustDial reported operational revenues of Rs 181.71 crore for the quarter ended March 31 (Q4FY17). This represented a rise of 5.89% from Rs 171.60 crore for the same quarter last year. On a sequential basis, operational revenues increased marginally from Rs 180.32 crore.
At the end of the quarter, JustDial was conducting 4,35,360 paid campaigns for advertisers as compared to 3,68,800 campaigns as of March 31, 2016, representing a growth of 18%. Divide the operating revenue by the number of campaigns, and it appears JustDial made Rs 4173 per paid campaign, down from Rs 4870 per paid campaign in the same quarter last year. Campaigns are essentially paid featured listings/recommendations on JustDial’s search.
Net profit during the quarter stood at Rs 25.35 crore down 37.08% from Rs 40.29 crore in Q4FY16. In the previous quarter, net profit was 27.45 crore.
JustDial’s employee count increased to 11,334 from 11,185 last quarter. However, employee costs decreased by 2 % to Rs 108.83 crore from Rs 111. 86 crore the last quarter. Employee expenditure accounts for around 67 % of total costs for JustDial. Note that in Q2 FY16, the company said that said revenue growth was hit as it did not make adequate hiring for its sales team. Last quarter, the company’s management said there would be no compromise on sales and will add people for feet-on-street, tele sales.
Note that JustDial has not made a mention of marketing or ad expenses in the press release or financials. In the December quarter, it said that it would spend around Rs 100 crores over the next 3-4 quarters.
JustDial’s Omni business
JustDial hasn’t yet released data for its Omni business, an inventory management product it introduced to help small businesses manage their online and offline sales. In the previous quarter, CEO VSS Mani said that JustDial is putting a hold on the Omni business and will instead concentrate its efforts on its core search product.
Omni, according to CFO Ramkumar Krishnamachari, reported revenues of only about Rs 1 crore during the December quarter. In the June 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.