Stocks

Justdial shares tank over 9% on Q3 results

PTI New Delhi | Updated on January 19, 2018

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.

Published on January 28, 2016

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