Mumbai: Shares of Just Dial Ltd on Monday hit an all-time low, falling in 16 out of 21 trading sessions on the back of higher volumes.

The stock touched a low of 544 a share and fell as much as 10.6% in intra-day trade. So far this year, the stock fell 34%.

On 28 January, the company said its net profit fell 16% in the December quarter to 26.99 crore as compared to 32.14 crore a year ago. Total income rose 14.6% from a year ago to 180.90 crore.

Broking firm Nirmal Bang said in its 29 January report that it has kept the stock under review on account of lack of clarity on the full-fledged launch of search-plus services, difficulty in ascertaining the timeline as well as the impact of monetisation of search-plus transactions and reassessment of growth and margin profile of the core listing business.

The brokerage firm expects that the margins of the company will remain under pressure as the company has indicated that it is going to step up investment in hiring more sales personnel—to the tune of 30% in fiscal year 2017. There may also be advertising expenses of 100 crore spread over the next few quarters.

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