Shares of Just Dial opened 10 percent higher on Monday following the company's strong earnings for the December quarter, released on Friday.
The company's consolidated net profit for the October-December quarter grew by more than threefold, to ₹75.32 crore. The consolidated revenue stood at ₹221.4 crore, up 39.3 percent year-on-year (YoY) and 7.9 percent quarter-on-quarter (QoQ).
According to the company's exchange filing, the adjusted operating earnings before interest, taxes, depreciation, and amortisation (EBITDA), excluding ESOP expenses, stood at ₹29.4 crore, which was up 194 percent on year, and 51.1 percent QoQ. The company's margin improved for the fourth quarter in a row.
At 9:55 IST, the stock was trading at high volume of 960.6K with a price gain of 8.79 percent.
"This seems to be a price and volume breakout and further upside can be expected in the coming days. 620 - 600 level is the immediate support zone, whereas 685 - 700 level is resistance," said an analyst.
The stock has fallen 33.01 percent from the 52-week high of ₹957.6 recorded on January 21, 2022, and the weekly average delivery volume is 39.08 percent.
