Just Dial slips after uninspiring Q1 results

Just Dial was down 2.99% to Rs 471.55 at 10:23 IST on BSE after net profit rose 7.98% to Rs 38.93 crore on 14.06% rise in total income to Rs 204.95 crore in Q1 June 2016 over Q1 June 2015.

The result was announced after market hours yesterday, 16 August 2016.

Meanwhile, the S&P BSE Sensex was up 35.21 points or 0.13% at 28,099.82.

On BSE, so far 5.18 lakh shares were traded in the counter as against average daily volume of 2.40 lakh shares in the past one quarter. The stock hit a high of Rs 490 and a low of Rs 445.50 so far during the day. The stock had hit a record low of Rs 377.65 on 12 February 2016. The stock had hit a 52-week high of Rs 1,076.90 on 14 October 2015. The stock had underperformed the market over the past one month till 16 August 2016, sliding 12.18% compared with 0.82% rise in the Sensex. The scrip had also underperformed the market in past one quarter, declining 33.38% as against Sensex's 9.4% rise.

The mid-cap company has equity capital of Rs 70.54 crore. Face value per share is Rs 10.

Just Dial's board of directors at its meeting held yesterday, 16 August 2016, approved a draft scheme of arrangement between Just Dial and Just Dial Global Private (JDGPL) for demerger of Data and Information Undertaking (demerged undertaking) of JDGPL into the company, subject to requisite approvals. The scheme proposes to demerge the Data and Information Undertaking of JDGPL and consolidate it with the key elemental search business operations carried out by Just Dial.

Just Dial started offering local search services in 1996 under the Just Dial brand and is now the leading local search engine in India.

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