India's local search engine Just Dial is expected to report dismal performance in third quarter earnings due to demonetisation. Profit is seen falling 5.2 percent year-on-year to Rs 25.5 crore on weak operational performance, though other income may support.
Revenue during the quarter may increase 7.1 percent to Rs 183.5 crore compared with Rs 171.33 crore in same quarter last year, according to average of estimates of analysts polled by CNBC-TV18.
Operating profit (EBITDA - earnings before interest, tax, depreciation and amortisation) may decline 35.8 percent to Rs 24 crore, and margin may shrink 870 basis points to 13.1 percent compared with year-ago quarter, but may improve
Just Dial primarily serves SME clientele who were heavily dependent on cash economy. Hence, demonetisation has slowed down new client additions, analysts say.
In addition, competition from vertical-specific classifieds and Google continue to pose risk to growth, they feel.
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