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Justdial reports net profit of Rs 37.5 crore but other income decline hits growth

Online classifieds and e-commerce company Justdial has reported a net profit of Rs 37.5 crore for the quarter ended September 2017 (Q2FY18). Net profit was up 26.5% on a year-on-year (YoY) basis and down 1.8% on a quarter-on-quarter (QoQ) basis. The company attributed the lower QoQ net profit due to a decline in other income. Other income stood at Rs 20.05 crore for the quarter, a decline of 22.91% from Rs 26.01 crore in the same quarter last year.

Operating revenue stood at Rs 194.5 crore, showing a growth of 7.9% YoY and 2.3% QoQ. Operating EBITDA was at Rs 39.6 crore and witnessed a growth of 76.5% YoY and 21.9% QoQ. Operating EBITDA Margin at 20.4% grew 792 bps YoY and 327 bps QoQ.

Justdial’s unearned Revenue stood at Rs 277.4 crore as on September 30, 2017, up 13.2% YoY and decline of 4.5% QoQ. Unearned revenue is money received by the company for a service or product that has yet to be fulfilled. It can be thought of “prepayment” for goods and services.

Paid campaigns

JustDial had conducted 439,700 paid campaigns for advertisers during the quarter, up 7.6% YoY and up 0.9% QoQ. Divide the operating revenue by the number of campaigns, and it appears JustDial made Rs 4435 per paid campaign, up from Rs 4410 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 19.8 million, up 17% YoY, adding around 1,021,158 listings during the period. Of these listings, 9.2 million were with geocodes, up 48.5% YoY. Total images in listings stood at 38.5 million, up 51.4% YoY and up 8.1% QoQ. Total Ratings & Reviews stood at 76.1 million at the end of quarter, up 17.4% YoY and up 4.1% QoQ.

Traffic and app downloads

  • Unique Visitors for the quarter stood at 105 million, up 37.1% YoY and 4.5% QoQ.
  • Traffic from Mobile stood at 69 million, up 66.3% and 10% QoQ. This accounted for 65.7% of the total traffic share.
  • Traffic from Desktop stood at 26.5 million, up 5.1% YoY and down 5.3% QoQ. This accounted for 25.2% of the total traffic share.
  • Traffic from voice stood at 9.6 million, down 3.3% YoY and 3.1% QoQ. This accounted for 9.1% of the total traffic share.

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.

Employees

JustDial’s employee count decreased to 10,892 from 11,262 down by 3.3% 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, telesales.

Download: Press release | Financials | Presentation 

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    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ