News Justdial shares tank over 9% on Q3 results

Technoglitch

Technoglitch

Core Member
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.
Justdial shares tank over 9% on Q3 results | Business Line
 
Deepu

Deepu

EntMnt Legend
Finest Member
Technoglitch said:
He has stake in it?
Click to expand...
Just Dial was an endorsement deal; someone said invest in the stock, so I did: Amitabh Bachchan

In a chat with ET Now, Amitabh Bachchan touches upon his investment in Just Dial. The company had signed up Big B as its brand ambassador in Dec '10. Big B was allotted 62,794 shares at a price of Rs 10 each in 2011 amounting to Rs 6.27 lakh.

Just Dial was an endorsement deal; someone said invest in the stock, so I did: Amitabh Bachchan - timesofindia-economictimes
 
Deepu

Deepu

EntMnt Legend
Finest Member
Just Dial Ltd, the online database listing firm, has slipped below its issue price of Rs. 530 a share and now trading at Rs. 432.40 on BSE. The stock has tanked nearly 18% from its issue price so far.

The company had raised Rs. 950 crore through an initial public offering (IPO) in May 2013, which was over subscribed 12 times. As against its issue price of Rs. 530, the stock was listed with impressive gains at Rs. 590 on its debut.

The company had touched a high of Rs. 1,400 in mid May 2014.

According to market experts, poor Q3 numbers and weak outlook have prompted investors to offload in Just Dial. The company’s Q3 standalone net profit declined 16% to Rs. 26.99 crore compared with Rs. 41.70 crore in Q3 FY15.

Just Dial tumbles below offer price
 
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