Dreamfolks Services Q1 results: Revenue rises 66% at ₹266.32 crore
airport service aggregator platform Dreamfolks Services Ltd on Wednesday reported 66% growth year-on-year in revenue at ₹266.32 crore for the first quarter ended June 30 of fiscal year 2024. Its profit after tax (PAT) stood at ₹12.96 crore in the June quarter of current fiscal year. PAT margin was reported at 4.87%.
The company attributed the growth in revenue to rise in air passengers’ growth and several initiatives driving penetration in lounge and other services. The board of directors has approved a dividend of ₹0.5 per share for the June quarter, Dreamfolks Services said in a release. The dividend will be payable on or before 8 September 2023 to the shareholders.
Dreamfolks Services said its Ebitda stood at ₹18.69 crore and Ebidta margin at 6.99%. “It has been an impressive beginning to the year, building upon the positive trends of the previous two quarters. DreamFolks has showcased strong operational capabilities, resulting in a significant revenue uptick," Liberatha Kallat, chairperson and managing director, Dreamfolks Services, said in the release.
“Regarding our Financial Performance, we have witnessed a remarkable 66.18 % revenue growth, surging from INR 1602.60 million in Q1 FY23 to INR 2663.21 million in Q1 FY24. Our steadfast commitment to an asset-light model and lean team structure has allowed us to proudly maintain a debt-free status," Kallat also said. The company said it registered a robust 45.30% jump in passengers utilizing lounge and other services in June quarter of FY24.
Shares of Dreamfolks Services on Wednesday declined 20% to close at ₹621.15. For the fourth quarter of fiscal year 2023, the company had reported a net profit at ₹25.3 crore, a growth of 184% year-on-year. The revenue from
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