Just Dial says business has recovered from COVID impact; shares up 1.6 percent

Shares of Just Dial, were up 1.6 percent to Rs 772.45 at 12:30 pm on August 24 after the company released its annual report on August 23 post market hours. Some 3 lakh shares were traded today, higher than the monthly trading average volume of 1 lakh. VSS Mani, founder of Just Dial, said the business witnessed recovery during FY23 after the impact of Covid.

Mani talked about the value addition provided by the company to SMEs (Small and Medium-sized Enterprises). “Advantage for businesses is that our average ticket size is in the range of ₹18,000-20,000 annually though it varies by type of business and geographies, making it quite affordable and delivers an optimal cost benefit ratio to SMEs. We also have premium listings for enterprises that wish to have preferential visibility during a search output. This allows us to offer a variety of choices for our customers based on their capacity to invest with us.”, Mani said.

In its management discussion and analysis, the company said it attracted 159.3 million quarterly unique visitors which led to higher user engagement in Q4FY23.

According to the data from Press Information Bureau, 63 million MSMEs in the country employ more than 40 percent of India’s workforce. MSMEs contribute 6.11 percent to the manufacturing GDP and 24.63 percent to the service sector’s GDP. The sector also contributes 40 percent to India’s exports.