Just Dial connects a wrong call

Just Dial had hit a new 52-week high yesterday at Rs.1631.70 and today, it is currently the top loser on the BSE, down over 6% at Rs.905 with an intra day low of Rs.895.20. Volumes have jumped up almost 2.5 times.

The market is disappointed with the company’s Q2FY16 performance. A sluggish topline but a spurt in other income helped the company end the quarter with a better bottomline. Net revenue grew by less than 2% (YoY) and QoQ at Rs.171 crore while other income surged from Rs.7 crore to Rs.26 crore (QoQ). EBITDA for the quarter was down 18% (QoQ) at Rs.40 crore and margins dipped pretty sharply from 28.71% to 23.17%. Tax expense was down 25% (QoQ) and down 8% (YoY) and this helped shore up the net profit which was at Rs.46 crore, up 39% (QoQ) and up 48% (YoY).