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Justdial reports net profit of Rs 28.6cr but other income decline hits growth

Online classifieds and e-commerce company Justdial has reported a net profit of Rs 28.6 crore for the quarter ended December 2017 (Q3FY18). Net profit was up 4.2% on a year-on-year (YoY) basis and down 23.7% on a quarter-on-quarter (QoQ) basis. The company attributed the lower QoQ net profit due to a due to increase in bond yields in 3Q-FY18 resulting in mark-to-market losses on long maturity investments (such as tax-free bonds among others) in our investment portfolio. Other income stood at Rs 2.6 crore for the quarter, steep decline of 86.9% from Rs 19.7 crore in the same quarter last year.

Operating revenue stood at Rs 196.8 crore, showing a growth of 9.2% YoY and 1.2% QoQ. Operating EBITDA was at Rs 46.5 crore and witnessed a growth of 80.9% YoY and 17.5% QoQ. Operating EBITDA Margin at 25.8% grew 927bps YoY and 375bps QoQ.

Justdial

Justdial’s unearned Revenue stood at Rs 285.2 crore as on December 31, 2017, up 11.5% YoY and marginal increase of 2.8% 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 440,600 paid campaigns for advertisers during the quarter, up 3.7% YoY and up 0.2% QoQ. Divide the operating revenue by the number of campaigns, and it appears JustDial made Rs 4467 per paid campaign, up from Rs 4243 per paid campaign in the same quarter last year. Campaigns are essentially paid featured listings/recommendations on JustDial’s search.

justdial profit vs revenue

Total listings on Justdial were 20.7 million, up 17.3% YoY, adding around 908,973 listings during the period. Of these listings, 10.1 million were with geocodes, up 60.8% YoY. Total images in listings stood at 41.4 million, up 48.3% YoY and up 7.7% QoQ. Total Ratings & Reviews stood at 79 million at the end of quarter, up 16.4% YoY and up 3.8% QoQ.

Traffic and app downloads
Unique Visitors for the quarter stood at 107.6 million, up 33.6% YoY and 2.4% QoQ.
Traffic from Mobile stood at 73.6 million, up 57.3%% and 6.7% QoQ. This accounted for 68.4% of the total traffic share.
Traffic from Desktop stood at 25 million, up 3.1% YoY and down 5.5% QoQ. This accounted for 23.3% of the total traffic share.
Traffic from voice stood at 9 million, down 5.1% YoY and 6.2% QoQ. This accounted for 8.3% of the total traffic share.

justdial employee cost vs other

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 10,948 from 10,948 down by 2.1% from the same quarter last year. However, increased marginally by 0.5% from last quarter.

DownloadPress release | Financials Presentation 

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