Online classifieds and e-commerce company JustDial reported net profit of Rs 38.16 crore for the quarter ended June 30 (Q1FY18), registering a dip of 2% from Rs 38.93 crore in Q1FY17. On a sequential basis, net profit increased 50.53% from Rs 25.35 crore in the previous quarter. Operational revenues during the quarter stood at Rs 190.04 crore, representing increase of 7.8% from Rs 176.29 crore for the same quarter last year. Operating EBITDA Margin stood at 17.1%. Unearned Revenue stood at Rs. 290.4 Crores as on June 30, 2017, up 20.0% YoY and up 5.9% QoQ.
On a like-for-like basis, revenue for search business was at Rs 190.2 Crores witnessing a growth of 11.7% YoY from Rs 170.2 in the same quarter last year. Sequentially, Search Revenue increased 4.7% QoQ at Rs 181.6 crore.
JustDial had conducted 435,980 paid campaigns for advertisers during the quarter, as compared to 389,400 campaigns for the same quarter last year. This is a growth of 12%.
Divide the operating revenue by the number of campaigns, and it appears JustDial made Rs 4358 per paid campaign, down from Rs 4527 per paid campaign in the same quarter last year. Campaigns are essentially paid featured listings/recommendations on JustDial’s search.
Total listings on Justdial were 18.8 million, up 13.3% year on year, adding around 906,457 listings during the period. Of these listings, 7.8 million were with geocodes, up 28.3% year on year.
Traffic & App downloads
- Unique Visitors for the quarter stood at 100.5 million, up 32.5% YoY and 15.9% QoQ. Of this, around 62.7 million were mobile (up 61.2% YoY), which accounted for 62.4% of total traffic. 28 million were on desktop (up 4.9%YoY) and 9.9 million were mobile: down 4.3% YoY).
- Total active listings on JustDial increased to 18.8 million in Q1FY17 from 16.6 million in the same period last year, up by 13.3% annually. The company added 906,457 listings to its database during the June quarter.
- Cumulative App Downloads: The JustDial mobile app downloads at the end of quarter stood at 15.4 million, up 52% YoY and up 16.2% QoQ. Average 26,533 App Downloads per day were witnessed during the quarter, up 243.6% YoY and 34.8% QoQ. Of the app downloads, 12.9 million were on Android, 1.7 million on iOS, and 0.8 million on others. Even on a higher base, Android downloads grew 59.4% year on year.
JustDial’s employee count decreased to 11,262 from 11,932, down by 5.6% last quarter. Note that in Q2 FY16, the company said that said revenue growth was hit as it did not hire adequately for its sales team. In the quarter ending December 31, 2016, the company’s management said there would be no compromise on sales and will add people for feet-on-street, tele sales.
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 Q3FY17, CEO VSS Mani said that JustDial is putting a hold on the Omni business and will concentrate its efforts on its core search product.
In a separate BSE filing, Justdial said that the board has appointed Abhishek Bansal as chief financial officer of the company.
Bansal was earlier vice president of corporate strategy in the company. Bansal joined JustDial in May 2014 after working at Credit Suisse as an investment banker. He holds a degree of MBA from IIM Bangalore. Bansal will replace Ramkumar Krishnamachari, who resigned earlier this month and had led Justdial’s IPO in 2013.
Notes from Justdial’s last concall here.