Just Dial net loss widens to Rs 48 cr in Q1 FY23.
On 15th July 2022, Just Dial Dial reported a consolidated net loss of Rs 48.36 crore in Q1 FY23 compared with a net loss of Rs 3.52 crore in Q1 FY22. The loss was driven by negative other income. Other income stood at Rs 60 crore for the quarter due to mark-to-market (MTM) losses on treasury portfolio owing to the significant increase in bond yields (135-150 bps QoQ for 2-3 year AAA bonds). The net profit margin foe the June quarter was -26% as compared to 2-2.1% in June 21 and 13.3% in March 22 quarter.
Net revenue was at Rs 185.60 crore for the June quarter as against Rs 165.41 crore during the same period in the previous year, registering a growth of 12.2%. On a sequential basis, net sales rose 11.4% from Rs. 166.7 crores. The employee expenses were higher during this quarter. This was on account of increase in the hiring across critical functions such as technology, content, sales and marketing teams. In sales department, headcount was up 4.2% QoQ.
Just Dial reported a pre tax loss of Rs 59.84 crore in June 22 as against a pre tax loss of Rs 4.39 crore recorded in June 21. Total expenditure increased by 3.71% to Rs 185.45 crore in Q1 FY23 as against Q1 FY22.
The company recorded Adjusted operating EBITDA, excluding ESOP expenses, at Rs 11 crore in Q1 FY23 as compared to Rs -10 crore in Q1 FY22 and Rs -8 crore in Q4 FY22.
Deferred Revenue stood at Rs 353.4 crore, up 4.5% QoQ and 15% YoY. The QoQ growth in deferred revenue driven by 12.2% QoQ growth in collections to Rs 200.9 crore.
Cash and Investments stands at Rs 3,739.6 crore as on June 2022 compared to Rs 1,533 crore as on June 2021 and Rs 3,820.1 crore in March quarter.
Total Traffic (unique visitors) for the quarter stood at 147.9 million, up 19.1% YoY and 2.1% QoQ. 84.3% traffic originated on Mobile platforms, 11.3% on Desktop/ PC and 4.4% on our Voice platform.
Total Active Listings stood at 32.8 million as on 30 June 2022, an increase of 7.4% YoY and 2.8% QoQ. During the June quarter 907,228 listings were added to the database. Active Paid Campaigns at the end of Q1 FY23 was at 483,690, up 10.5% YoY and 4.8% QoQ. Robust paid campaigns addition of 22,195 was due to aggressive focus on selling monthly payment plans.
Currently, the shares of Just Dial are trading at Rs. 585.60 as against the previous close of Rs. 591.55, declined by 5.25 points or by 0.89%. The stock opened at Rs. 593.70. The market cap of the company is Rs. 4,940 crores.
