Just Dial535648Quarterly results

Q2 FY27 results: revenue up 13.1% YoY, net profit down 9.7%

Just Dial posted its September 2026 quarter numbers.

By ScoutQuest · Mon 19 Oct 2026, 10:13 PM IST · 3 min read

Revenue: ₹342.8 Crores, up 13.1% YoY and 4.7% QoQ
Operating EBITDA: ₹90.7 Crores, margin 26.4%
Net Profit: ₹107.8 Crores, down 9.7% YoY

The quarter at a glance

Operating Revenue: ₹342.8 Crores, up 13.1% YoY and 4.7% QoQ
Operating EBITDA: ₹90.7 Crores, up 3.7% QoQ, with an EBITDA margin of 26.4%
Profit Before Taxes: ₹134.6 Crores, down 34.9% QoQ
Net Profit: ₹107.8 Crores, down 35.1% QoQ and 9.7% YoY
Net Profit Margin: 27.1% for the quarter

Why profit moved differently from revenue

The company attributed the YoY dip in Net Profit primarily to lower other income amid elevated yield rates. Other Income stood at ₹54.6 Crores, down 58.5% QoQ and 25.6% YoY. The release explains that bond yields increased about 57 bps QoQ, compared with a fall of about 44 bps in Q1 FY27, which had resulted in higher mark-to-market gains in the earlier quarter.

Where the money went

Justdial said it continued to invest in AI-led capabilities, automation and B2B expansion, with these strategic priorities accounting for approximately one-third of incremental expenditure during the quarter. Advertising spends stood at approximately ₹11.6 Crores during the quarter.

Platform activity

Active paid campaigns at quarter end: 656,520, up 5.2% YoY and 2.7% QoQ
Total traffic (unique visitors): 198.4 million, up 0.4% YoY and 2.8% QoQ
Traffic mix: 85.1% mobile, 12.4% desktop/PC, 2.5% voice
Total active listings: 57.4 million, up 12.2% YoY and 2.3% QoQ; 1,309,647 listings added (net) during the quarter
Geocoded listings: 43.0 million, up 19.8% YoY
Total images in listings: 269.5 million, up 12.8% YoY
Total ratings and reviews: 164.0 million, up 6.0% YoY

Balance sheet and cash generation

Cash and Investments: ₹6,113.9 Crores as on September 30, 2026, compared with ₹5,569.7 Crores a year earlier and ₹6,022.1 Crores as on June 30, 2026
Collections (including monthly ECS): ₹328.8 Crores, up 5.3% QoQ and 11.7% YoY
Deferred revenue: ₹526.1 Crores, down 2.6% QoQ and flatish YoY
Effective tax rate (ETR) at a normalised level of 19.9% for the quarter

What management said

Chief Executive Officer Mr. Dinkar Ayilavarapu said the first half of FY27 has given clarity on where Justdial goes next and early evidence that the company is on the right path. He described three priorities: strengthening the core by improving outcomes for merchants and using AI to make the sales engine sharper and more productive; helping merchants manage their digital presence and customer conversations; and building new products and services. He said the company is investing from a position of strength, with discipline and patience.

The release also notes positive adoption of its AI-powered CRM and lead management tools, and refers to future opportunities such as connecting businesses with relevant services through a marketplace and applying merchant intelligence to enable new digital services.

What a retail investor can track

Revenue growth is running ahead of earnings, so the gap between revenue and net profit trends is worth watching quarter to quarter
Operating EBITDA margin was 26.4%, against 28.7% in the same quarter last year, a change of -228 bps
Paid campaign additions and listing growth indicate how the merchant base is expanding
Interest income on the large cash and investments balance has been a meaningful part of profit, and it moved with bond yields this quarter

Also from Just Dial