Justdial CEO VSS Mani to Step Down After 33 Years; Q1 Profit Rises to ₹167 Cr

Digital classifieds platform Justdial has announced its financial results for the first quarter of fiscal year 2026-27, reporting a net profit of ₹166 crore, a modest 4.1% increase year-over-year. The company's operating revenue grew 9.9% to ₹327.5 crore during the same period.

Alongside the financial update, Justdial revealed that co-founder and CEO VSS Mani will be stepping down from his role on July 31, concluding a 33-year tenure with the company he founded in 1993. Mani remained at the helm even after Reliance Retail acquired a majority stake in 2021.

Total expenses for the quarter rose by 11.5% to ₹252.3 crore. The platform's operating EBITDA saw a marginal 1.1% year-over-year increase to ₹87.4 crore, but the operating EBITDA margin declined by 233 basis points to 26.7%.

In a significant leadership change, Dinkar Ayilavarapu, a former executive at Flipkart Wholesale, has been appointed as the new CEO, effective August 1. The company also announced the appointment of Dinesh Taluja as its new Chief Financial Officer (CFO).