Just Dial (JUSTDIAL) Q1 24/25 earnings summary

Executive summary

• Operating revenue for Q1 FY25 was INR 280.6 crore (Rs 2,806 million), up 13.6% year-over-year and 3.8% sequentially.

• Net profit surged 69.3% year-over-year to INR 141.2 crore (Rs 1,412 million), with net profit margin expanding to 38.4%.

• Unique visitors reached 181.3 million, up 5.7% year-over-year and by 10 million sequentially, with mobile accounting for 85.3% of traffic.

• Active paid campaigns rose 8% year-over-year to 591,600, and total listings grew 18.2% to 44.9 million.

• Unaudited financial results for the quarter ended June 30, 2024, were reviewed and approved by the Board on July 16, 2024.

Financial highlights

• Absolute EBITDA more than doubled year-over-year to INR 80.6 crore (Rs 806 million), margin at 28.7%.

• Other income was INR 86.9 crore (Rs 869 million), with treasury yield to maturity at 7.2%.

• Cash and investments stood at INR 4,755 crore (Rs 47,555 million), up 14.3% year-over-year.

• Net revenue from operations for Q1 FY25 was ₹2,805.7 million, up from ₹2,469.8 million in Q1 FY24.

• Basic and diluted EPS for the quarter were ₹16.60, compared to ₹9.84 and ₹9.80, respectively, in Q1 FY24.

Outlook and guidance

• Management targets mid-teens+ top-line growth and 25%+ EBITDA margins, with no explicit quarterly guidance.

• Margins are expected to be sustainable, with possible minor quarterly volatility due to advertising or team expansion.

• Effective tax rate for FY25 estimated at 8.2% due to deferred tax reversal; long-term rate expected at 18%-20%.

• Continued focus on expanding SME engagement, enriching listings, and leveraging technology for scalable growth.

• Emphasis on maintaining profitability and operational efficiency while investing in product and platform enhancements.