Just Dial shares hit fresh highs, up 18% in 2 days; co issues clarification on volume increase

Shares of Just Dial Ltd continued to witness sharp gains for the second consecutive session in Friday's trade. The stock surged 4.76 per cent to hit a new one-year high value of Rs 1,058. At this price, it has gained 18.35 per cent in just two trading days.

Exchanges (BSE and NSE) have sought clarifiation from the business search engine with reference to movement in volume. Just Dial, in response, said, "There is no disclosure that should have been made in terms of Sebi (Listing Obligations and Disclosure Requirements) Regulations, 2015 and which has not been made by the company."

The strong upmove in share price was recorded after the business search engine said it reported a net profit of Rs 115.6 crore in the fourth-quarter (Q4 FY24), up 37.9 per cent year-on-year (YoY). EBITDA was up 111.4 per cent YoY.

"Operating Revenue stood at Rs 270.3 crore, up 16.2 per cent YoY & 2 per cent QoQ. Operating EBITDA stood at Rs 70.6 crore, with healthy EBITDA margin of 26.1 per cent. EBITDA margin witnessed 1,176 bps YoY and 334 bps QoQ expansion, led by topline growth and cost efficiencies, both on employee costs and other expenses," it stated.

"Other Income (primarily MTM gains on treasury portfolio and interest income on tax-free bonds) stood at Rs 91.3 crore (up 23.1 per cent YoY), up 21.9 per cent QoQ, aided by slight decline in bond yields during the quarter," Just Dial added.

Cash and Investments stood at Rs 4,625.4 crore as on March 31, 2024 compared to Rs 4,066.8 crore as on March 31, 2023 and Rs 4,405.3 crore as on December 31, 2023, it further mentioned.

Just Dial provides local search related services to users in India through multiple platforms such as desktop/PC website, mobile site, mobile apps (Android, iOS, Windows), over the telephone and text.