Just Dial Expects To Complete Rs 220-Crore Buyback In Three Months
Just Dial Ltd. expects to complete its Rs 220-crore proposed buyback over the next three months.
“We need to take statutory approvals for the buyback, which will take roughly three months,” Chief Financial Officer Abhishek Bansal told BloombergQuint today.
The company’s board approved a buyback of 27.5 lakh shares, or 24.26 percent equity, at Rs 800 apiece on Saturday. The announcement came after the search services provider reported an over 11 percent growth in its June quarter revenue.
Key Financial Highlights
- Net profit was up 1 percent to Rs 38.5 crore.
- Revenue was up 11.3 percent to Rs 211.4 crore.
- Earnings before interest, tax, depreciation and amortisation were up 76.9 percent to Rs 57.4 crore.
- Margins stood at 27.2 percent compared with 17.1 percent.
Watch the full conversation here: