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Just Dial Shares Slump 11% As Q2 Results Lag Estimates
Shares in listing search engine company, Just Dial fell 8 per cent, as profits came in below street estimates. For the second quarter ending Sept 30, 2015, the company posted net profit of Rs 46.30 crore. The profits were propelled by other income, which did not go down well the markets.
Just Dial shares were last trading at Rs 858 on the NSE.
Net sales at Just Dial jumped 16.19 per cent year-on-year to Rs 171.27 crore.
"We view both the deceleration in core search revenues and the delay in the launch of Search Plus commercial advertising by the company negatively," Nomura said.
The shares of Just Dial have seen significant rally in the last 1 year as investors are willing to pay a premium for the high growth that the company has been showing.
However, some of these heavily prices companies can see huge selling pressure, if there is even a little disappointment with the quarterly numbers.
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