Justdial Q1 FY25: Profit Surges 69% YoY To INR 141.2 Cr

SUMMARY

The search engine’s net profit stood at INR 141.22 Cr in the quarter under review

Operating revenue grew about 14% to INR 280.57 Cr during the quarter under review from INR 246.98 Cr in Q1 FY24

Justial’s total expenses shrunk 4% to INR 213.55 Cr in Q1 FY25 from INR 222.27 Cr in the year-ago quarter

Reliance Retail-owned hyperlocal search engine Justdial’s net profit surged 69% to INR 141.22 Cr in the quarter ended June 30, 2024 (Q1 FY25) from INR 83.4 Cr in the year-ago quarter.

On a sequential level, Justdial’s profit grew 22% from INR 115.65 Cr in Q4 FY24.

Operating revenue grew about 14% to INR 280.57 Cr during the quarter under review from INR 246.98 Cr in Q1 FY24. Sequentially, it grew about 3% from INR 270.27 Cr.

Including other income, total revenue for the quarter stood at INR 367.44 Cr, up 12% from INR 328.38 Cr in the year-ago period.

The company said its EBITDA zoomed nearly 120% year-on-year (YoY) to INR 80.6 Cr during the quarter under review. Meanwhile, EBITDA margin expanded 1,389 basis points YoY and 261 basis points on a quarterly basis to 28.7% during the quarter under review.

In a statement, the company attributed the growth in EBITDA margin to top line growth and cost efficiencies, both on employee costs and other expenses.

The company managed to cut its expenses on a YoY basis in Q1 FY25. Total expenses shrunk 4% to INR 213.55 Cr in Q1 FY25 from INR 222.27 Cr in the year-ago quarter.

The decline in the company’s expenses can be attributed to the decrease in employee expenses. Justdial’s employee benefit expenses stood at INR 172.87 Cr during the quarter under review, down 5% from INR 182.55 Cr in Q1 FY24.

The improvement in the company’s top line can be attributed to the increase in total traffic. Total unique visitors interacting with Justdial’s search platform surged 5.7% YoY and 6.0% QoQ to 181.3 Mn during the quarter under review. In this, desktop/ PCs counted for 11.3% of the total interactions, while mobile platforms and voice platforms accounted for 3% and 3.4%, respectively.

Justdial’s total active listings also grew to 44.9 Mn during the quarter, a 18.2% YoY and 3.2% QoQ jump. The company said 1.37 Mn new listings were added to its database this quarter.

Founded in 1993 by VSS Mani, Justdial provides both B2C and B2B listings of small and medium businesses in India. The search service is available to users across multiple platforms, such as the internet, over telephone (voice), and text (SMS).