Justdial Q2 Profit Doubles To INR 154 Cr

Reliance Retail-owned hyperlocal search engine Justdial’s net profit jumped 115% to INR 154.07 Cr in the quarter ended September 30, 2024 (Q2 FY25) from INR 71.79 Cr in the year-ago quarter.

On a sequential level, Justdial’s profit increased 9% from INR 141.22 Cr in Q1 FY25.

The growth in operating revenue was subdued in the quarter. Justdial’s revenue from operations stood at INR 284.83 Cr during the quarter under review, up 9.3% from INR 260.61 Cr in Q2 FY24. Sequentially, it grew 1.5% from INR 280.57 Cr in the previous quarter.

However, the company’s total income jumped 25% to INR 398.44 Cr in Q2 FY25 from INR 318.53 Cr in the year-ago quarter, as other income nearly doubled.

The company’s other income for the quarter stood at INR 113.61 Cr, up 96% from INR 57.92 Cr in Q2 FY24.

Justdial said that the other income in the quarter included fair value gain on financial instruments and profit from sale of investments. While fair value gain stood at INR 99.80 Cr as against INR 50.73 Cr in Q2 FY24, profit on sale of investments stood at INR 6.4 Cr in Q2 FY25 as against INR 1.03 Cr in the year-ago quarter.

“Sequential growth was led by higher MTM (mark to market) gains on treasury portfolio due to decline in bond yields during the quarter,” the company said in a statement.

Meanwhile, Justdial managed to reduce its expenses in the quarter on a year-on-year basis. Its expenditure stood at INR 216.88 Cr in the quarter, a decline of 4% from INR 226.43 spent in the year-ago quarter.

(The story will be updated shortly.)

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