Just Dial net profit surges 98%

Just Dial's net profit in Q2FY14 increased by 98% to Rs 28.66 crore, while operating revenue increased by 29% to Rs 112.66 crore (Y-o-Y) from Rs 87.63 crore.

Mr. V.S.S. Mani, MD & CEO, Just Dial Ltd said: "We continue to witness robust revenue growth and margin expansion in Q2. As part of our strategy to provide users with convenience & ease of performing online transactions we are in the process of developing various products in the transaction enablement space. We hope to launch some of these in the next few quarters"

The company also plans to launch a comprehensive price discovery engine along with an online platform for various goods. For businesses, this online platform will provide an opportunity to get discovered and open up an additional channel of distribution.

JustDial has said that it will not be engaged in e-commerce directly but will instead focus on connecting its customers with local merchants, and will allow consumers to browse catalogues and place orders online. JustDial will not be involved in fulfillment of products or services, nor will it build warehouses or own any inventory.

"We received approximately 122.6 million usage (representing PC/Mobile internet visits) from the users of our search services in Q2FY14 as compared to 90.3 million in Q2FY13, representing a Y-o-Y growth of 36% which resulted in approximately 291.8 million searches in Q2FY14 as compared to 202.6 million in Q2FY13, representing a Y-o-Y growth of 44%," the company said in a release.

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