Just Dial Sees Online Traffic Growth Paving Way For Future Success
Online traffic expansion, price hikes and better realisation per customer helped Justdial Ltd. report increased margins and revenues in the first quarter, VSS Mani, its founder and chief executive officer, told BloombergQuint in a phone interview.
Traffic on its portal rose 32.5 percent and app downloads jumped 250 percent, contributing to the 50 percent quarter-on-quarter rise in its net profit to Rs 38.16 crore, he said.
The quarter has been rewarding in the sense that despite spending Rs 22 crore on advertising, our earnings before interest, tax, depreciation and amortisation margins have remained the same as the previous quarter's.VSS Mani, MD & CEO, Just Dial
The management of Just Dial announced a buyback of Rs 83.9 crore at a maximum of Rs 700 per share from the open market.
Mani said the slated buyback will happen immediately as the board has already approved it. Since shareholders were not involved in the process, there are no further approvals or negotiations left.
The company's strategy to focus on top 100 keywords has contributed roughly 70 percent to the increase in revenue, the CEO said. Better realisations also work as a motivating factor, as it corresponds to their expanding customer base, said Mani.
This has been a price-hike quarter, which has clearly worked well for us.VSS Mani, MD & CEO, Just Dial
Apart from the usual techniques that Just Dial resorts to for traffic generation on their portal, Mani highlighted ‘metasearch engine' as their focus. The platform enables users to compare products with their corresponding prices in a user-friendly way.
Shares of Just Dial ended 0.77 percent higher at Rs 381.95 on the National Stock Exchange on Tuesday.
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