Shares of Just Dial on Wednesday dipped over 3 per cent after the company's consolidated net profit declined by 61.2 per cent for December 2021 quarter.
The stock declined 5.78 per cent to Rs 791 during the day on the BSE. It settled at Rs 812.90, lower by 3.17 per cent.
At the NSE, it closed at Rs 813, a decline of 3.16 per cent after tumbling 5.90 per cent during the session to Rs 790.
Just Dial on Tuesday said its consolidated net profit declined by 61.2 per cent to Rs 19.4 crore for the quarter ended December 2021. The company's net profit stood at Rs 49.9 crore in the year-ago period.
Its net revenue from operations dipped 6.2 per cent to Rs 158.89 crore in the October-December 2021 quarter from Rs 169.54 crore a year ago.
The company said it has ramped up hiring across critical functions, such as technology, content, sales and marketing teams, which has resulted in higher employee expenses. In the sales department, headcount was up 18.3 per cent sequentially.
"These investments should result in superior product offerings and higher monetisation going forward," Just Dial said.