Just Dial 2Q-FY24 performance: Highlights and key figures
Just Dial Limited, India’s dominant local search engine, has made public its financial and operational results for the second quarter, ending September 30, 2023.
Revenue and Profit Metrics
The major highlight is the significant increase in revenue. For 2Q-FY24, Just Dial’s revenue clocked in at ₹ 260.6 Crores, marking a notable 27.0% growth YoY. Following suit, EBITDA for the period is reported at ₹ 48.8 Crores, a whopping 186.3% increase YoY, bringing the EBITDA Margin to 18.7%. Net Profit too has seen a commendable rise, registering ₹ 71.8 Crores, up 37.5% YoY.
Traffic and User Engagement
From a user engagement perspective, traffic in 2Q-FY24 stands at 171.7 million users, which is an increment of 9.7% YoY. Notably, a significant portion of this traffic, about 86.1%, originates from mobile platforms.
Financial Highlights for 2Q-FY24
Another remarkable development is in the realm of collections, which stood at ₹ 278.4 Cr, reflecting a 20.8% YoY growth. Consequently, Deferred Revenue has reached ₹ 468.0 Crores, marking an increase of 23.6% YoY. Meanwhile, the company’s Cash and Investments have also seen a YoY rise of 12.1%, amounting to ₹ 4,282.2 Crores as of September 30, 2023.
Operational Metrics for 2Q-FY24
Total Active Listings have surged to 40.2 million, an increase of 18.6% YoY. Out of these, 25.3 million listings were geocoded, witnessing a growth of 25.7% YoY. The total images in the listings amounted to 165.2 million, marking a 30.5% YoY rise. Furthermore, Ratings & Reviews recorded for the quarter stand at 145.8 million, up 6.3% YoY.
Active Campaigns and Business Strategy
Highlighting its business strategy, Just Dial disclosed its Active Paid Campaigns figure for the quarter – 560,830, an increase of 11.3% YoY. The company emphasizes its ongoing focus on enrolling a majority of its customers on monthly payment plans.