Navigating the Digital Landscape: Justdial’s Q3 Triumph Signals Sustainable Growth in Hyperlocal Search
Introduction:
Justdial, the hyperlocal search engine, has released its financial results for the third quarter (Q3) of the fiscal year 2023-24 (FY24), showcasing impressive performance. The company reported a substantial 22.3% year-on-year (YoY) surge in consolidated net profit, reaching INR 92 Cr. This noteworthy achievement reflects the company’s resilience and strategic positioning in the hyperlocal search market.
Revenue Growth:
One of the key highlights of Justdial’s Q3 FY24 results is the robust growth in operating revenue. The hyperlocal search engine recorded a 19.7% YoY increase, with operating revenue soaring to INR 265 Cr from INR 221.4 Cr in the corresponding quarter of the previous fiscal year. This surge underscores the effectiveness of Justdial’s business strategies and its ability to capitalize on market opportunities.
Expense Management:
While Justdial experienced significant revenue growth, the company also managed its expenses effectively. Total expenses stood at INR 218.9 Cr in Q3 FY24, marking a 6.8% increase from INR 204.9 Cr in Q3 FY23. This prudent expense management indicates the company’s commitment to maintaining a healthy bottom line while pursuing growth.
Active Listings:
Justdial’s success is further evident in the substantial growth of its total active listings. The hyperlocal search engine reported an 18.8% YoY increase, reaching 41.6 million active listings at the end of December 2023. Notably, there was a net addition of 1.4 million listings during the quarter, showcasing Justdial’s ability to attract and retain a diverse range of businesses on its platform.
Quarterly Comparison:
Comparing the quarterly performance, Justdial’s net profit witnessed a remarkable 28.12% increase from INR 71.8 Cr in Q2 FY24. This upward trajectory reinforces the company’s positive momentum and its capacity to deliver consistent financial growth.
Conclusion:
Justdial’s Q3 FY24 results demonstrate a compelling success story in the hyperlocal search industry. The impressive surge in net profit, coupled with substantial revenue growth and prudent expense management, reflects the company’s resilience and effective business strategies. As Justdial continues to evolve in the dynamic digital landscape, these results position the company as a formidable player in the hyperlocal search market, ready to navigate and capitalize on future opportunities.