Just Dial slides 10%, down for 4th day in a row

NEW DELHI: Shares Just Dial extended its recent slide, falling nearly 10 per cent in Friday's trade after the company said its December quarter net profit declined 16 per cent YoY to Rs 26.99 crore. The company had reported a net profit of Rs 32.14 crore for the corresponding quarter last year.

The stock slumped 9.74 per cent to hit a fresh 52-week low of Rs 648 on the BSE, taking its year-to-date fall to 23 per cent.

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The company, which announced its third quarter results before market hours of Thursday, said total income grew 14.58 per cent to Rs 180.90 crore for the quarter compared with Rs 157.88 crore for the same quarter last year.

"We are at least around three quarters behind in terms of scaling up the business. The growth in volume has not happened to the extent we should have. We are expanding the sales force both in existing and newer geographies. Over the next nine months, we are going to be adding about 2,000 to 2,500 sales force in addition to the 6,000 that we already have," RamKumar Krishnamachari, CFO, Just Dial, said in an interview to ET Now.

The stock had settled 8.50 per cent on Thursday. Friday's was the fourth consecutive day of slide for the stock.

The company's net profit margins for December quarter stood at 15.75 per cent, which was the lowest in at least five quarters. Earnings per share (EPS) came in at Rs 3.83 compared with Rs 6.57 for the September quarter and Rs 5.43 for the year-ago quarter.