Just Dial, India’s local search engine company, on Monday reported a 22 per cent year-on-year (Y-o-Y) growth in net profit to Rs. 76.1 crore for the March quarter. The company’s net profit for the same quarter last year stood at Rs. 62.5 crore.
Operating revenue of the company for the fourth quarter grew by a mere 1.2 per cent YoY to Rs. 234.9 crore (Rs. 232.3 crore) while operating EBITDA grew 26.4 per cent to Rs. 74.4 crore (Rs. 58.8 crore).
For the full year, the net profit of the company was up by 31.7 per cent to Rs. 272.3 crore while cash & investments stood at Rs. 1,591.3 crores as on 2020.
The Board of Directors of the company also approved buy-back of shares for Rs. 220 crore on a proportionate basis through the ‘Tender Offer’ route at a maximum price of Rs.700 per share.
The company said its business has been impacted due to nation-wide lockdown owing to COVID-19. However, it also added that it has a strong Balance sheet and cash position; reviewing all avenues of cash generation and re-evaluating all costs.