- 18 Jul 2022
- ICICIdirect Research
JD reported Q1FY23 numbers
JUSTDIAL - 1240 Change: -22.35 (-1.77 %)News: Just Dial (JD) for Q1FY23 reported revenue of Rs 185.6 crores, up by 11.4% QoQ & 12.2% YoY. JD reported an EBITDA of Rs 11 Crores compared to EBITDA loss of Rs 6 Crores in Q4FY22. EBITDA adjusted for ESOP expenses was Rs 11 Crores. JD reported a net loss of Rs 48.3 Crores due to reported Net Other Income of Rs (60 Crores) on account of mark-to-market losses on treasury portfolio due to significant increase in bond yields during the quarter. JD for the quarter ended reported an unearned revenue of Rs 353.4 Crores, up by 4.5% QoQ & Cash & Investments of Rs 3,739.6 Crores, down by 2.1% QoQ. JD reported total listings of 3.28 Crores for the quarter, up by 4.8% QoQ & paid campaigns were 4.84 lakhs, up by 4.8%. JD added 431 net employees taking its total headcount to 10,601 employees.
Views: JD reported strong numbers on revenue as paid listing continue to improve and now it is only 10% below its high achieved in March 20 quarter of 530K( just before the pandemic). Realisation improved QoQ possibly could be on continued reduction discounts. However continued increase in operating expenses impacting margins which are still in single digit.
Impact: Neutral