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Business News/ Companies / Just Dial to raise Rs1,000 crore
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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

Just Dial said its net profit for the second quarter of the current fiscal rose 10% to Rs31.49 crore from Rs28.66 crore in the same period a year ago. Premium
Just Dial said its net profit for the second quarter of the current fiscal rose 10% to Rs31.49 crore from Rs28.66 crore in the same period a year ago.

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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ABOUT THE AUTHOR
Swaraj Singh Dhanjal
" Based in Mumbai, Swaraj Singh Dhanjal is responsible for Mint’s corporate news coverage. For the past eight years he has been writing on the biggest deals in private equity, venture capital, IPO market and corporate mergers and acquisitions. An engineer and an MBA, he started his journalism career in 2014 with Mint. "
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Published: 21 Oct 2014, 10:54 AM IST
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