In an interview with CNBC-TV18, Ramkumar Krishnamachari, CFO of Just Dial said that the company has taken steps to address growth on core search which has started yielding results.
The revenue growth rate has shown recovery in the fourth quarter of FY16 and the company is confident of delivering 20-25 percent revenue growth in FY17, says Reema Tendulkar of CNBC-TV18.
Internet search company Just Dial has announced a buyback plan while shelving earlier programme to raise Rs 1000 crore citing a weak market that is â€œright now like a bubble with frothy valuations.â€
Ramkumar Krishnamachari, CFO, Just Dial says the company will be able to maintain its margin at 31 percent on a like to like basis year-on-year.
The company plans to start a mega campaign to popularize the Search Plus business, which enables customers to carry out transactions such as booking movie tickets, ordering flowers or making doctor appointments from its directory, as well as buy various products, CFO Ramkumar Krishnamachari told CNBC-TV18.
Local search-service provider Just Dial has got an approval from its board to raise funds up to Rs 1,000 crore. This was despite the company having cash reserves of about Rs 750 crore on its books.
The company‘s cost to download apps on mobile internet has escalated 3-4 times in the last year itself. Ramkumar Krishnamachari, CFO, Just Dial is confident of app downloads to see a sharp rise via aggressive marketing spends.
Just Dial, the search engine that provides comprehensive information on all B2B and B2C products and services, has forayed into transaction-enabled services.
Sandip Malhotra, CEO, Homeshop 18, says 8-10 years on, internet could be faster growing than television but mobile too could surprise. VSS Mani, Founder & CEO, Just Dial says internet penetration particularly through mobile phones will be of a huge advantage.
VSS Mani of Just Dial expects a large chunk of traffic coming through mobile internet. Also, the company will adopt a scheme "safety net'' for retail investors proposed by the capital market regulator Sebi in 2012 for its initial public offer (IPO).