Just Dial Q3 net zooms 86%; shares plummet over 12 pc

Local search service provider Just Dial today reported 86 per cent rise in net profit at Rs 29.75 crore in the quarter ended December 31, 2013, compared to the same period of previous year.
The company, which listed on bourses in June last year, had reported a net profit of Rs 15.96 crore in October- December 2012.
Revenue of the company grew by about 26 per cent during the reported quarter to Rs 119.86 crore, from Rs 95.19 crore it posted in same quarter a year ago.
On quarterly basis, net profit rose by about 4 per cent from Rs 28.66 crore and revenue by 6.4 per cent from Rs 112.66 crore in the previous quarter.

Shares of the company, however, plunged by 12.59 per cent to settle at Rs 1,287.85 at BSE.
During the October-December quarter, the company received an order from the Karnataka government allowing it to set up an IT and ITes-BPO and Software Development centre at IT Park in Bangalore for which company paid advance of Rs 7.5 crore to authorised body.

The company also applied for tax-free bonds during the reported quarter for which it paid advance of Rs 125 crore.
"Subsequent to the quarter end, of the total advance, bonds worth Rs 24.7 crore has been allotted and balance has been refunded to the company," Just Dial said in the result.

Subsequent to the quarter end, the company has further applied for tax-free bonds of Rs 100 crore, it said.