Just Dial Limited has released its unaudited financial results for the third quarter and nine-month period ended December 31, 2025. The company reported healthy revenue growth and improved operating margins during the quarter, although bottom-line performance was affected by a one-off expense related to the implementation of new labour regulations.

Revenue and earnings performance

For Q3 FY26, Just Dial recorded operating revenue of ₹305.7 crore, representing a 6.4% year-on-year increase. Operating EBITDA rose 10% YoY to ₹95.2 crore, while the EBITDA margin improved by 101 basis points to 31.2%, underscoring better operating efficiency. Operating profit before tax also grew 14.4% YoY to ₹82.1 crore.

However, overall profit before tax declined 2.4% YoY to ₹145.6 crore, owing to a one-time exceptional expense of ₹21.1 crore. As a result, net profit declined 10.2% YoY to ₹118.0 crore. The effective tax rate normalised to 19%, compared to a lower base in the previous year.

Strong treasury position and deferred revenues

Other income increased 9.3% YoY and 15.5% QoQ to ₹84.6 crore, aided by higher treasury balances. Deferred revenue stood at ₹521.9 crore, up 2.9% YoY. The company continues to maintain a robust financial position, with cash and investments rising to ₹5,703 crore as of December 31, 2025, compared with ₹5,062.7 crore a year earlier.

Platform metrics and business performance

Total traffic during the quarter reached 184.5 million unique visitors, declining 3.5% YoY but improving 6.6% sequentially, reflecting quarter-on-quarter recovery. Mobile continued to dominate usage, contributing 86.2% of total traffic.

Active listings increased 11.1% YoY to 52.8 million, with 1.58 million net listings added in the quarter. Geocoded listings registered 17.3% YoY growth, while user-generated content such as images and ratings continued to expand. Active paid campaigns rose 4.7% YoY, reaching 629,180.

Commenting on future plans, Shwetank Dixit, Chief Growth Officer of Just Dial, said the company intends to introduce AI-powered voice and chat interfaces to support data verification and customer service. AI capabilities will also be integrated into the search platform to enable conversational discovery, making local search simpler for users and helping businesses manage their online presence more effectively.

Summary

Just Dial reported 6.4% YoY revenue growth in Q3 FY26, with improved operating margins and higher operating profit. Net profit declined due to a one-time exceptional expense linked to new labour codes. The company maintained strong cash reserves and rising deferred revenue, while platform metrics showed sequential recovery in traffic, continued growth in listings, and an increase in paid campaigns. Just Dial plans to roll out AI-driven voice and chat interfaces and enhance conversational search capabilities to strengthen user experience and business engagement.

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