Justdial zooms 23% amid heavy volumes
Total income rose 11.71 per cent to Rs 217.09 crore during the period under review.
By ETMarkets.com | Updated:
BCCL
Last week, the company reported 53.68 per cent annual growth in net profit at Rs 38.96 crore for the quarter to March.
NEW DELHI: Shares of Justdial climbed as much as 23.17 per cent in the intraday trade on Monday.
Last week, the company reported 53.68 per cent annual growth in net profit at Rs 38.96 crore for the quarter to March. It had posted a net profit of Rs 25.35 crore in the same quarter last year.
Total income rose 11.71 per cent to Rs 217.09 crore during the period under review against Rs 194.34 crore earlier.
The scrip had scaled 52-week high of Rs 648 on January 16 and hit a 52-week low of Rs 326.10 on August 11 last year.
Cumulative app downloads at the end of the quarter stood at 19.8 million, up 49.7 per cent YoY and 5.8 per cent QoQ. There were an average 15,501 app downloads per day during January-March.
Traffic, or unique visitors, for the quarter, stood at 111.6 million, up 28.6 per cent yoy and 3.7 per cent sequentially. Nearly 71 per cent of traffic originated on mobile platforms, 21.5 per cent on desktop-PC and 7.7 per cent on the voice platform.
Justdial reported 4QFY18 revenues in-line with our estimates. However, ebitda was below estimates due to a strong sales headcount addition even as a rationalisation of other costs, including advertising and promotion (A&P), continued, says JM Financial in its report.
We believe it’s tightening of the A&P spend – ostensibly to manage margins – could hurt in the medium term given the aggressive cash-burn by most of the domain-specific apps, the brokerage added. Thus, it has maintained soft revenue growth outlook. It has maintained hold rating on the stock with target price of Rs 540.
Last week, the company reported 53.68 per cent annual growth in net profit at Rs 38.96 crore for the quarter to March. It had posted a net profit of Rs 25.35 crore in the same quarter last year.
Total income rose 11.71 per cent to Rs 217.09 crore during the period under review against Rs 194.34 crore earlier.
The scrip had scaled 52-week high of Rs 648 on January 16 and hit a 52-week low of Rs 326.10 on August 11 last year.
Cumulative app downloads at the end of the quarter stood at 19.8 million, up 49.7 per cent YoY and 5.8 per cent QoQ. There were an average 15,501 app downloads per day during January-March.
Traffic, or unique visitors, for the quarter, stood at 111.6 million, up 28.6 per cent yoy and 3.7 per cent sequentially. Nearly 71 per cent of traffic originated on mobile platforms, 21.5 per cent on desktop-PC and 7.7 per cent on the voice platform.
ADVERTISEMENT
Justdial reported 4QFY18 revenues in-line with our estimates. However, ebitda was below estimates due to a strong sales headcount addition even as a rationalisation of other costs, including advertising and promotion (A&P), continued, says JM Financial in its report.
We believe it’s tightening of the A&P spend – ostensibly to manage margins – could hurt in the medium term given the aggressive cash-burn by most of the domain-specific apps, the brokerage added. Thus, it has maintained soft revenue growth outlook. It has maintained hold rating on the stock with target price of Rs 540.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
