Just Dial to raise Rs1,000 crore
The company's board has approved raising up to Rs1,000 crore by selling equity or equity-linked securities
Mumbai: The board of Just Dial Ltd has approved raising up to ₹ 1,000 crore by selling equity or equity-linked securities, the company said in a BSE filing on Tuesday.
The fund-raising is subject to approval of shareholders, the search services provider said.
The company also said its net profit for the second quarter of the current fiscal rose 10% to ₹ 31.49 crore from ₹ 28.66 crore in the same period a year ago. Profit margin was affected adversely by over 2 percentage points because of an increase in expenses.
The firm’s revenue grew 31% to ₹ 147.4 crore.
At 10.16am, Just Dial shares were down 0.43% to ₹ 1,679.85 apiece on BSE, while the benchmark Sensex was up 0.59% to 26,587.06 points.
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