Just Dial Ltd - Q3FY23 Result First Cut - YES Securities

- Revenue inline; EBITDA margin broadly along expectation

- Reported revenue of Rs. 2,214 million. (Up 39.3% YoY, 7.8% QoQ). The growth was led by increase in active paid campaigns (up 3.6% QoQ) and 3.8% QoQ increase in average realization.

- EBITDA margin increased by 397 bps QoQ to 12.3% led by control on employee cost (up 3.0% QoQ).

- Total unique visitors for the quarter were 156.8 Mn against previous quarter of 156.6 Mn (up 0.2% QoQ).

- App downloaded per day reduced to 7,827 vs 7,862 in Q2FY23.

- Total employee base grew 2.2% QoQ to reach headcount of 15,393 employees.

- Cash and Investment increased from Rs. 38,189 (Q2FY23) Mn to Rs. 39,344 Mn (up 3.0% Q-o-Q).

- PAT increased to Rs. 753 Mn (up 44.3% QoQ) from Rs. 522 Mn in Q2FY23 due to higher Other Income in the quarter.

- Earnings concall- 16th Jan- 6-7 pm IST- 022 7195 1111

- View: Overall, inline performance with sequential improvement in key operating metrics. The management commentary on B2B segment and other new initiatives would be key to watch out for. We currently have REDUCE Rating on the stock. Trades at PER of 18.9x on FY24E.

Shares of Just Dial Limited was last trading in BSE at Rs. 643.65 as compared to the previous close of Rs. 585.15. The total number of shares traded during the day was 116767 in over 2361 trades.

The stock hit an intraday high of Rs. 643.65 and intraday low of 621.00. The net turnover during the day was Rs. 74796885.00.

Source : Equity Bulls

Keywords

JustDial INE599M01018 Q3FY23 Result FirstCut YESSecurities