Just Dial's margins improved in Q3 as other expenses decreased but revenue growth was muted on a sequential basis. In an interview with CNBC-TV18 Abhishek Bansal, CFO of Just Dial shared more details on company’s earnings.
Just Dial is a stock in focus on the back of the company announcing its numbers as well as they announced a buyback. In an interview to CNBC-TV18, VSS Mani, MD & CEO of the company spoke about the same.
Our immediate objective is to get back to double-digit revenue growth, said Ramkumar Krishnamachari, CFO, Just Dial.
Speaking to CNBC-TV18, Ramkumar Krishnamachari, Chief Financial Officer of Justdial, said the impact of demonetisation had turned out to be neutral as the local search service had witnessed better payouts from existing clients.
July-September quarter saw reversal in the trend, says Ramkumar Krishnamachari, CFO of Just Dial.
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.
CFO Ramkumar Krishnamachari says Just Dial has taken corrective measures and it should start yielding results leading to double-digit revenue run rate starting from the third or fourth quarter this fiscal.
Just Dial's margin may be under pressure in the near-term due to investments and a one-time ad spend, which will start in June. It will be spread over the coming quarters, says Ramkumar Krishnamachari, CFO of the company.
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.
Net profit fell 16 percent to Rs 26.99 crore year-on-year (YoY) and EBITDA margins dipped 5.15 percentage points to 26.99 percent (YoY).
Ramkumar Krishnamachari, CFO of Just Dial, believes slow addition to sales force and geographical expansion impacted revenue this quarter.
Ramkumar Krishnamachari, CFO, Just Dial says salary hikes and and new hires on the sales side has impacted Q2 numbers
Ramkumar Krishnamachari, CFO, Just Dial says the company continues to stay most popular search player as there is no competition for local search since it has disrupted the yellow pages business.
The company's net profit rose 18 percent to Rs 33.17 crore on 21.42 percent rise in total income to Rs 175.74 crore in Q1 June 2015 over Q1 June 2014.
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.
In an interview to CNBC-TV18, Ramkumar Krishnamachari, chief financial officer Just Dial, shares his insights on the company‘s Q3 numbers and his outlook for the upcoming quarters.
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.
Ramkumar Krishnamachari, chief financial officer says the recently approved fundraising plans would allow the company to pursue strategic objectives.
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.
According to Rajkumar Krishnamachari, CFO of Just Dial, the sequential decline in margins in Q2 was due to employee addition which pushed costs and one-time spend by way of reward to employees.
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.
Ramkumar Krishna Machari, CFO of Just Dial told CNBC-TV18 that company‘s margins are normally high in the first quarter and then it falls. In FY14 also he is expecting that 35 percent EBITDA margin should come down, but it will definitely expand than what it was in FY13.