Shares of local search engine Just Dial on Thursday plunged by 8.9% as the company reported 16% decline in net profit for the quarter ended December 31.
The stock slumped by 8.87% to Rs 715 - 52-week low- on BSE. At 1416 hours, the stock of the company was trading at 8.56% or Rs 67.15 at Rs 717.50 intraday on the BSE.
On NSE, it tumbled 9.12% to hit a 52-week low of Rs 713.30.
Just Dial on Thursday reported 16% decline in net profit to Rs 27 crore for the October-December quarter of the current fiscal due to a sharp increase in expenses. The company had reported a net profit of Rs 32 crore in the same quarter a year ago.
Just Dial's total income from operations grew 10.95% to Rs 171.3 crore in the quarter under review as against Rs 154.4 crore a year ago, it said in a BSE filing.
Its overall expenses stood at Rs 142 crore, up 28.60%, compared with Rs 110.4 crore in the third quarter (Q3) of the previous fiscal.
