Shares of Just Dial on Wednesday dipped nearly 6 percent after the company’s consolidated net profit declined by 61.2 percent for the quarter ended in December 2021.
The stock declined 5.78 percent to Rs 791 on the BSE.
At the NSE, it tumbled 5.90 percent to Rs 790.
Just Dial on Tuesday said its consolidated net profit declined by 61.2 percent to Rs 19.4 crore for the quarter ended December 2021. The company’s net profit stood at Rs 49.9 crore in the year-ago period.
Its net revenue from operations dipped 6.2 percent to Rs 158.89 crore in the October-December 2021 quarter, from Rs 169.54 crore in the year-ago period.
The company said it has ramped up hiring across critical functions such as technology, content, sales, and marketing teams which has resulted in higher employee expenses. In the sales department, headcount was up 18.3 percent sequentially.
”These investments should result in superior product offerings and higher monetization going forward,” Just Dial said.
Reliance Retail to acquire controlling stake in Just Dial for Rs 3,497 cr