Mumbai, 10 November 2024—DreamFolks Services Limited (herein referred to as “DreamFolks”), India’s largest travel and lifestyle service aggregator, today announced the financial results for the second quarter and first half ended 30 September 2024.
Ms. Liberatha Kallat, Chairperson and Managing Director, commented on the performance: “We achieved double-digit growth on Revenue and Gross Profit, during the quarter, while in H1FY25, all key financial metrics such as – Revenue, Gross Profit, Adjusted EBITDA, and PAT reported a decent performance. This financial performance is the testament to the strategic initiatives we have undertaken over the past few quarters.
The “Services other than India airport lounge” contributed 6.7% to Revenue in Q2FY25 as compared to 5.5% in Q2FY24. Our continuous efforts to grow other services have started giving yields backed by growth in services like Golf and Railway Lounge.
Furthermore, we have successfully broadened our portfolio of clients, incorporating seven new enterprises to our client base in Q2FY25. Moreover, our commitment to maintaining a 100% airport lounge coverage in India continues, as witnessed by the addition of four new lounges to our network, culminating in a total of 74 lounges in India. In a further expansion to our global lounge network, we have integrated 38 new lounges with a significant number situated within Asia.
Our strategic initiatives towards integrating new services, customer acquisition, increasing wallet share with existing clients and geographic expansion; coupled with the strong momentum being witnessed by our allied industries; will continue to contribute towards our growth in future.
Meanwhile, our commitment to operational excellence as well as our investment in technology and people will ensure a sustained growth in profitability as well. We are confident that our unique business model and our strategies will continue to foster sustained long-term growth.”
Key Financial Highlights of the Quarter (Consolidated):
| Particulars (Rs Million) | Q2FY25 | Q2FY24 | H1FY25 | H1FY24 | Growth
(YoY) |
FY24 |
| Revenue from Operations | 3,169 | 2,825 | 6,377 | 5,488 | 16.2% | 11,350 |
| Gross Profit | 392 | 351 | 768 | 635 | 21.0% | 1,368 |
| Adjusted EBITDA* | 255 | 266 | 513 | 464 | 10.6% | 1,033 |
| Profit After Tax | 160 | 177 | 332 | 306 | 8.3% | 686 |
*After adjusting for non-cash ESOP Expenses
