SUMMARY
- Justdial saw its net profit soar by 115% YoY to Rs 154.07 crore in Q2 FY25.
- Its revenue from operations reached Rs 284.83 crore in Q2 FY25, marking a 9.3% YoY increase.
- Its total expenses stood at Rs 216.88 crore in Q2 FY25.
Reliance Retail-owned Justdial, saw its net profit soar by 115% to Rs 154.07 crore in Q2 FY25 compared to Rs 71.79 crore in Q2 FY24.
On a QoQ basis, Justdial’s profit rose by 9% from Rs 141.22 crore in the first quarter of FY25.
Its revenue from operations reached Rs 284.83 crore in Q2 FY25, marking a 9.3% rise from Rs 260.61 crore in Q2 FY24. On a sequential basis, it showed a 1.5% growth from Rs 280.57 crore in the preceding quarter.
The company’s overall earnings saw a 25% increase to Rs 398.44 crore in the quarter under review from the Rs 318.53 crore in the same period last fiscal.
The other income for the quarter amounted to Rs 113.61 crore, marking a 96% increase from Rs 57.92 crore in Q2 FY24.
Justdial mentioned in its statement that the rise in other income was due to a significant increase in fair value gains on financial assets and profits from the sale of investments. The fair value gains increased by Rs 99.80 crore from Rs 50.73 crore in the previous year’s second quarter, while profits from investments saw a notable increase from Rs 1.03 crore to Rs 6.4 crore in the same period.
The company stated that the growth in other income was primarily driven by higher mark to market gains on treasury portfolio, attributed to a decrease in bond yields during the quarter.
At the same time, Justdial managed to cut its expenses in the quarter compared to the same period last year. Its total expenses stood at Rs 216.88 crore in the quarter under review, showing a 4% decrease from Rs 226.43 crore noted in Q2 FY24.
