Online classifieds and e-commerce company JustDial has reported a net profit of Rs 38.5 crore for the quarter ending June 30th 2018 (Q1 FY19), marginally up 1% on year. However, the company’s bottom-line fell 1.1% on a quarter-on-quarter (QoQ) basis. JustDial largely attributed its fall in profits to the massive slump in its other income, which fell due to a surge in bond yields during the quarter. JustDial’s other income stood at Rs 8.2 crore for the quarter, down 69% from Rs 26.6 crore in the same quarter last year. Yet, the company remains optimistic over its future. In its earnings call for the quarter ending June, JustDial’s CFO Abhishek Bansal said that the last few quarters had laid a strong foundation for the company in the coming years. The company highlighted the fact that despite having a substantial user base of 100 million quarterly unique users, it recorded a growth of 25% on-year to about 125 million users in Q1 FY19. Answering a question, Bansal said that while the Apr-June quarter has typically yielded high traffic for JustDial, the launch of the firm’s new mobile website also aided the number of visitors. Explaining the rationale behind the company’s optimism, Bansal said that over the last few quarters JustDial had focused on improving its products, as they believed that it would lead to an increase in its user base, which in turn would lead to higher profits. He said, "As we have mentioned earlier as well that first of all user growth has to…
