Justdial reports 28 percent Y-o-Y growth in Q1 FY 14 results

Justdial, the leading search provider reports an increase of 28% to Rs. 104.56 crore (Y-o-Y) from Rs 81.67 crore as announced in  the financial results for Q1 FY14 ended June 30, 2013. The company’s Net Profit increased by 69% to Rs. 28.04 crore (Y-o-Y) from Rs. 16.64 crore. Also, recently the company successfully get  included in the BSE 500 Index from July 17, 2013 onward adding to the phenomenal  performance of the company during the current financial year.

As indicated by company CEO, Mr. VSS Mani in the previous release, the increased revenues and growth rates are mainly due to the changing ecosystem of the country wherein the increasing penetration of internet, cheaper data plans and available range of smartphones is broadly adding to the company profits.

Just Dial Ltd’s search service is available to users through multiple platforms, viz. Internet, Mobile Internet, Telephone (voice) and Text (SMS). In Q1, FY14, JustDial received a total of 115.2 million search requests as compared to 84.7 million in Q1FY13, representing a Y-o-Y growth of 36%.

With the rise in internet usage and the launch of its new iPhone app in 2013, both PC and mobile internet users contributed 66% of total search request in Q1FY14 Vs 60% in Q1FY13. Also, it reports to conduct around  221,500 campaigns for their paid advertisers as compared to 181,000 campaigns as of June 30, 2012, representing a Y-o-Y growth of 22%.

As per Justdial CEO, Mr. VSS Mani, in the coming years the company plans to introduce more innovative products and services to widen  interaction with its users.

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“We will continue to invest in the business to accelerate growth and expand our footprint across India. We also remain committed to deepening the engagement with our users as we continue to innovate and bring out new products and features”, said Mani.

Incorporated in 1996 by V.S.S. Mani, Justdial offers a 24×7 free local search to provide information about local businesses, products and services to the users, with approx. 9.5 million listings till date. Selling advertisements and qualified leads is the main source of earning for Justdial.

Although the company’s revenue model is dependent on digital advertising, a market that at present cover a very small domain in Indian market and largely captured by Google, Facebook, Linkedin and many more, the continuous rise in profits implies that company is doing quite well in the domain.

At present Justdial faces major competition from local search and business listing providers such as Getit, Asklaila, Sulekha and Indiamart.