Just Dial Ltd, the online local business search engine firm that is morphing into an e-commerce marketplace, has recorded a 16 per cent drop in net profit for the third quarter ended December 31, 2015 on account of slowing revenue growth and higher expenses.
The Mumbai-based company’s net profit declined to Rs 26.9 crore from Rs 32.14 crore a year earlier.
Revenue grew 11 per cent to Rs 171.33 crore from Rs 154.42 crore. Costs increased 28.6 per cent to Rs 142 crore from Rs 110.4 crore.
The company has appointed RV Raman, the former India sales head of TV streaming device maker Slingbox, as chief technology officer. Raman had joined Just Dial in September 2015 as deputy CTO, as per details on his LinkedIn page. Before that, Raman worked at Forus Health, a medical device startup.
Just Dial’s previous CTO Sandipan Chattopadhyay had stepped down on December 31.