Local search platform Just Dial on Friday recorded widening of consolidated loss to Rs 48.36 crore in the first quarter ended June 30, 2022.
The company had posted a loss of Rs 3.52 crore in the same period a year ago.
“Net loss stood at Rs 48.3 crore. This was driven by other income which stood in negative of Rs 60 crore for the quarter due to mark-to-market losses on treasury portfolio owing to significant increase in bond yields during the quarter,” Just Dial said in a statement.
The net revenue from operations of the company increased by 12.2 per cent to Rs 185.6 crore during the reported quarter from Rs 165.41 crore in the June 2021 quarter.
Just Dial said that total traffic of unique visitors for the quarter increased by 19.1 per cent to 14.79 crore on year-on-year basis with 84.3 per cent traffic originating on mobile platforms, 11.3 per cent on desktop and PC, and 4.4 per cent on its voice platform.
The company said that 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 4.2 per cent on a quarter-on-quarter basis. These investments should result in superior product offerings and higher monetisation going forward,” the statement said. PTI PRS HVA
