Just Dial (JUSTDIAL) Q4 20/21 earnings summary

Executive summary

• FY21 revenue fell 29.2% YoY to ₹675.2 crore and net profit declined 21.3% to ₹214.2 crore amid COVID-19 disruption to MSME customers.

• Digital traffic and monetisation recovered during the year; Q4 monetisation reached ~85% of pre-COVID levels, and JD Mart launched as a B2B marketplace.

• Average quarterly unique visitors were 123.1 million; active listings reached 30.4 million and active paid campaigns were 457,360 at year-end.

Financial highlights

• Operating revenue was ₹675.2 crore versus ₹953.1 crore in FY20; total income fell 24.5% to ₹824.7 crore.

• Adjusted operating EBITDA, excluding ESOP and one-time expense adjustments, was ₹190.6 crore; adjusted margin was 28.2% versus 30.5% in FY20.

• Profit before tax declined 27.6% to ₹254.7 crore; net profit fell 21.3% to ₹214.2 crore, while net profit margin rose to 31.7% from 28.6%.

• Basic EPS was ₹33.92 versus ₹42.00; operating cash flow was ₹138.9 crore versus ₹152.5 crore.

• Q4 operating revenue was ₹175.7 crore, operating EBITDA ₹34.6 crore, EBITDA margin 19.7% and net profit ₹33.6 crore.

Outlook and guidance

• Management expected a return to pre-COVID levels within a few months, supported by improved cost structures and accelerated digital adoption among SMEs.

• Advertising spend was intended to move gradually toward pre-COVID levels; JD Mart was expected to add platform traffic and revenue.

• Plans included JD Xperts, self-service advertiser sign-ups, JD Partner and hyperlocal services to diversify monetisation and offerings.