Just Dial Hits 52-Week High With 13% Surge On Q4 Results Growth

Just Dial saw a surge in its shares on Thursday, hitting a 52-week high, climbing 12.9% to Rs 1,010 per share. This significant upswing was fueled by the company's impressive fourth-quarter results for the financial year 2023-24.

In its latest quarterly report, Just Dial Ltd showcased a substantial 38.44% rise in consolidated net profit, reaching Rs 115.74 crore for the fourth quarter ending March 31, 2024. This marked a notable increase from Rs 83.6 crore recorded in the corresponding period of the previous fiscal year. The company also reported a surge in consolidated total income, which stood at Rs 361.56 crore, up from Rs 306.69 crore in the same period last year.

Despite a slight uptick in total expenses to Rs 214.12 crore, compared to Rs 210.94 crore in the previous year's fourth quarter, Just Dial demonstrated robust financial health. For the fiscal year concluded on March 31, 2024, the company's consolidated net profit soared to Rs 362.93 crore, reflecting a significant escalation from Rs 162.72 crore in the preceding fiscal year. Similarly, its consolidated total income for FY24 amounted to Rs 1,348.37 crore, a substantial increase from Rs 986.67 crore in FY23.

One of the key highlights of Just Dial's performance was the notable growth in total traffic of unique visitors, which expanded by 7.4% year-on-year in Q4 FY24. The majority of users accessed the platform through mobile devices, followed by desktops. Additionally, the company reported a significant increase in total active listings, which reached 43.6 million as of March 31, 2024, marking a robust 19.3% year-on-year growth.

Investors responded positively to Just Dial's impressive performance, with the company's shares trading 10.39% higher at Rs 986.90 per share at 10:15 AM. A substantial volume of 1,84,477 stocks exchanged hands on the Bombay Stock Exchange (BSE) during early trading hours.

Over the past month, Just Dial's stock has experienced a notable rally, surging by 26.31%, while over the last six months, it has skyrocketed by over 30%. Presently, the stock is trading at a price-to-earnings (P/E) multiple of 22.90, according to BSE data.

Just Dial's impressive financial results and strong market performance underscore its resilience and ability to capitalise on evolving market dynamics. With a growing user base and expanding listings, the company is well-positioned to sustain its growth trajectory and deliver long-term value to shareholders.

Just Dial's surge to a 52-week high reflects investor confidence in its robust performance and growth prospects, reaffirming its position as a leading player in the local search engine domain.