Shares of local search engine Justdial today plunged over 9 per cent as the company reported 16 per cent decline in net profit for the quarter ended December 31, 2015.
The stock slumped 8.87 per cent to Rs 715 — 52-week low — on BSE. On the NSE, the stock tumbled 9.12 per cent to hit a 52-week low of Rs 713.30.
Justdial today reported 16 per cent decline in net profit at Rs 27 crore for the October-December quarter of the current fiscal due to a sharp increase in expenses.
The company had reported a net profit of Rs 32 crore in the same quarter a year ago.
Justdial’s total income from operations grew 10.95 per cent to Rs 171.3 crore in the quarter under review against Rs 154.4 crore a year ago, the company said in a BSE filing.
Its overall expenses stood at Rs 142 crore, up 28.60 per cent, compared with Rs 110.4 crore in the third quarter of the previous fiscal.