Justdial reports two-fold profit to Rs 57 cr in Q3

Local search engine Justdial Monday reported a two-fold rise in standalone net profit at Rs 57.34 crore for the third quarter ended December 31, 2018. The company had posted a net profit of Rs 28.60 crore in the year-ago period.

In a statement, the company said its "net profit stood at Rs 57.3 crore, up 100.5 per cent Y-o-Y". The company's income increased to Rs 260.86 crore in the October-December period, over Rs 199.37 crore in the same quarter a year ago.

"Pursuant to the approval of directors and members of the company for buyback of equity shares of Rs 220 crore, the company has completed buy-back of 27,50,000 equity shares of face value of Rs 10 each at a price of Rs 800 per share for an amount aggregating up to Rs 220 crores from the shareholders on a proportionate basis...," the statement said.