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Travel Support Services company Dreamfolks Services announced Q2FY24 & H1FY24 results:
- Q2FY24:
- In Q2FY24, the company generated revenue from operations amounting to Rs 2,825 million, a significant increase compared to the Rs 1,712 million in Q2FY23.
- Gross profit for Q2FY24 was Rs 351 million, up from Rs 269 million in Q2FY23.
- EBITDA in Q2FY24 stood at Rs 248 million, an improvement from Rs 210 million in Q2FY23.
- Profit before tax for Q2FY24 was Rs 236 million, showing growth from Rs 196 million in Q2FY23.
- The profit after tax in Q2FY24 was Rs 177 million, compared to Rs 148 million in Q2FY23.
- The Profit After Tax (PAT) margin for Q2FY24 was 6.25%, down from 8.65% in Q2FY23.
- The Diluted Earnings Per Share (EPS) in Q2FY24 was Rs 3.25, an increase from Rs 2.74 in Q2FY23.
- H1FY24:
- For H1FY24, the company reported revenue from operations of Rs 5,488 million, a substantial increase from the Rs 3,315 million in H1FY23.
- The gross profit for H1FY24 amounted to Rs 635 million, up from Rs 521 million in H1FY23.
- EBITDA in H1FY24 reached Rs 435 million, an improvement from Rs 404 million in H1FY23.
- Profit before tax for H1FY24 was Rs 413 million, showing growth from Rs 379 million in H1FY23.
- The profit after tax in H1FY24 was Rs 306 million, compared to Rs 283 million in H1FY23.
- The PAT margin for H1FY24 was 5.58%, down from 8.52% in H1FY23.
- The Diluted EPS in H1FY24 was Rs 5.63, an increase from Rs 5.23 in H1FY23.
Liberatha Kallat, Chairperson and Managing Director, commented on the performance, “The company delivered a strong revenue performance registering 65.0% growth YoY in Q2FY24 while on a QoQ basis revenue grew marginally by 6.1%. On a sequential basis, the company has seen a gross margin improvement of 174 bps to 12.4% in Q2FY24.
We are a dominant player in the airport services industry and are at the forefront of digitizing the industry, which is witnessing multiple tailwinds. The domestic passenger traffic, as reported by the DGCA, has witnessed a growth of 20% on a YoY basis in H1FY24, while the Dreamfolks pax has increased by 47% in the same period, indicating the growing demand for lounge services in India as well as changing attitude of people towards having new experiences.
As the travel industry continues to witness robust demand, we believe we are well-positioned to capitalize on the growth opportunities. We are working hard to achieve the goals and are excited about the future.”
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