Just Dial Q4 FY26: Revenue ₹307.2 Crore (+6.2% YoY), Net Profit ₹100.0 Crore
RESULTS
◆ Monitor Closely
MEDIUM RISK
📅 Filed on BSE: 13 Apr 2026, 10:11 PM IST · BSE ID: bff10cbf-2f48-4aaf-8d1a-a50e965f63f9
View Original BSE Filing (PDF)
💡
In Simple Terms
Just Dial's profit fell this quarter because investment returns dropped sharply, though core ad business grew steadily.
🤖 AI Summary
- Q4 FY26 operating revenue ₹307.2 Crore, up 6.2% YoY; EBITDA margin 28.9%
- Net profit ₹100.0 Crore, down 36.6% YoY due to 55.2% drop in treasury gains
- FY26 full-year revenue ₹12,139 million (+6.3%), net profit ₹4,970 million (-14.9%)
- Unique visitors 182.4 million (-4.7% YoY); 54.7 million total listings (+12.1% YoY)
- Cash and investments ₹58,522 million (+10.9%); CFO resignation effective April 15
🔢 Key Numbers — exact figures from BSE filing, not rounded
Q4 FY26 Operating Revenue
₹307.2 Crore
6.2% YoY
Q4 FY26 Net Profit
₹100.0 Crore
-36.6% YoY
Q4 FY26 EBITDA Margin
28.9%
-86 bps YoY
FY26 Full-Year Revenue
₹12,139 million
6.3% YoY
FY26 Full-Year Net Profit
₹4,970 million
-14.9% YoY
Cash & Investments (Mar 31, 2026)
₹58,522 million
10.9% YoY
Q4 FY26 Unique Visitors
182.4 million
-4.7% YoY
Total Listings (Mar 31, 2026)
54.7 million
12.1% YoY
Other Income (Q4 FY26)
₹486 million
-55.2% YoY
🏢 How This Affects the Company
Operating revenue growth of 6.2% YoY demonstrates stable core advertising business. Total listings grew 12.1% YoY to 54.7 million and geocoded listings surged 25.4%, expanding database value. However, unique visitors declined 4.7% YoY, signaling traffic headwinds despite listing growth.
Net profit decline of 36.6% YoY entirely driven by lower other income (₹486 million vs. ₹1,087 million prior year) as higher bond yields reduced MTM treasury gains. Cash position strengthened 10.9% to ₹58,522 million. Operating PBT grew 7.3% YoY, confirming core operations remain profitable.
Total employee count at 13,070 (up 0.5% YoY) with sales staff rising 3.7% to 10,472. App downloads grew 8.5% YoY to 43.3 million. CFO stepping down April 15 after 12 years of tenure triggers leadership transition at CFO level.
Traffic contraction of 4.7% YoY raises questions about platform user engagement trends. Deferred revenue flat YoY at ₹5,554 million signals potential subscriber retention concerns. CFO departure removes institutional knowledge but noted as personal reasons, not operational stress.
👥 What This Means For Shareholders
✅
Action Required
No immediate action required. Monitor CFO transition progress and Q1 FY27 operating metrics, particularly traffic trend stabilization.
👤
Who Is Affected
All shareholders. Profit after tax declined ₹872 million YoY to ₹4,970 million for FY26; cash-rich balance sheet (₹58,522 million) protects distributable reserves.
🔍
Management Signal
CFO departure after 12 years cited as personal reasons suggests no operational crisis. Continued investment in AI-led tools and agentic-AI indicates technology modernization strategy remains intact.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Q1 FY27 traffic and unique visitors trend — confirm if 4.7% YoY decline stabilizes
CFO replacement announcement — track new appointment for management continuity signal
FY27 deferred revenue growth — monitor if ₹5,554 million base expands from current flat trend
MEDIUM RISK
Traffic decline 4.7% YoY plus flat deferred revenue signal user engagement softness. CFO departure introduces leadership transition risk. Treasury MTM volatility masks operational earnings clarity.
💡 Investor Takeaway
Operating revenue ₹307.2 Crore (+6.2% YoY) and core PBT ₹761 million (+7.3%) confirm stable advertising business. Net profit ₹100.0 Crore (-36.6%) largely reflects treasury MTM losses, not operational weakness. Cash position strengthened to ₹58,522 million, affirming financial strength.
⚖️ Strengths & Concerns
✅ Positives
- Operating PBT grew 7.3% YoY to ₹761 million; EBITDA margin remained healthy at 28.9%
- Cash and investments surged 10.9% YoY to ₹58,522 million; zero debt structure strengthens balance sheet
⚠️ Concerns
- Net profit fell 36.6% YoY to ₹100.0 Crore due to 55.2% drop in treasury investment gains
- Unique visitors declined 4.7% YoY to 182.4 million; deferred revenue flat at ₹5,554 million signals engagement softness
📅 Company Track Record
Just Dial's FY25 net profit was ₹5,842 million with ETR of 12.0% (benefited from deferred tax reversal). FY26 saw normalized ETR of 19.8%, explaining part of profit contraction. Operating EBITDA margin stabilized at 29.5% vs 29.4% in FY25, confirming operational consistency despite revenue pressure. Platform has scaled to 54.7 million listings and 182.4 million monthly unique visitors as of Q4 FY26.
Based on publicly available historical data. For context only.