Shares of Justdial, owned by Reliance Retail, dropped 8.94% to 942.05 rupees (US$10.89) during intraday trading on Monday.

This followed the release of its Q3 FY25, which revealed a 14.3% decline in net profit, down to 131.50 crore rupees (US15.2 million) from 154 crore rupees (US$17.8 million) in the previous quarter.

The decline was attributed to the impact of festival weeks, though the company saw a 42.7% increase in net profit year-on-year.

Founded in 1993, Justdial provides local search services and listings for small and medium businesses in India. In 2021, Reliance Retail acquired a 65% controlling stake in the company.