Just Dial Q2 net drops 38% to Rs 47 crore
Consolidated income dropped by around 32 percent to Rs 194.19 crore during the reported quarter from Rs 286.7 crore in the corresponding period of 2019-20.
October 30, 2020 / 10:12 PM IST
Digital directory service firm Just Dial on October 30 posted a 38 percent 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.
The operations of the company were impacted, due to shutdown of offices following lockdown imposed by the government authorities to contain spread of COVID-19 pandemic.
"Due to the COVID-19 pandemic, there has been an impact on the revenue… which has been partially offset by major cost reduction, including reduction in employee benefits, advertising and sales promotion expenses etc," the company said in its financial report.
Consolidated income dropped by around 32 percent to Rs 194.19 crore during the reported quarter from Rs 286.7 crore in the corresponding period of 2019-20. The company said with 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.
"While prioritising safety and well being of employees, the company is extensively leveraging technology for its operations. While the company has a strong balance sheet and robust cash position, the company is re-evaluating all costs and focusing even more on automated processes," Just Dial said. It added that the impact of Covid-19 remains uncertain and the company will continue to closely monitor any material changes to future economic conditions.