Just Dial: Hit by pandemic
Shares of Just Dial eased more than 4% Monday following the subdued earnings performance during the fiscal second quarter to September.
The digital directory service firm on October 30 posted a 38% decline in consolidated net profit at Rs 47.34 crore for the September quarter. The company had registered a net profit of Rs 76.94 crore in the same quarter a year ago.
Consolidated income dropped by around 32% to Rs 194.19 crore during the reported quarter from Rs 286.7 crore in the corresponding period of 2019-20.
The operations were impacted, due to shutdown of offices following lockdown imposed by the government authorities to contain spread of COVID-19 pandemic.
However, the impact on the revenue was partially offset by major cost reduction, including reduction in employee benefits, advertising and sales promotion expenses etc.
The easing of the lockdown, traffic and monetisation are improving and the impact of any revised lockdown or restrictions in certain geographies is being monitored.
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