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 in an interview to CNBC-TV18 said Just Dial has been paying the price for not expanding and executing on the sales side for the last 2 year.
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.
Ramkumar Krishnamachari, CFO of Just Dial, says the company is looking to sign up to 25,000-30,000 customers for JD Omni in FY17.
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.
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.
Revenue rose 6.5 percent to Rs 120 crore in the quarter ended December 2013 from Rs 112.7 crore in previous quarter while total expenses jumped 11 percent quarter-on-quarter to Rs 90.77 crore. Other income during October-December quarter climbed to Rs 11.08 crore from Rs 8.65 crore on sequential basis.
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.