Dreamfolks Services released its financial results for the first quarter ending in June 2022 on the first day of its stock market debut. In contrast to posting a loss of 1.4 crore in the same quarter last year, the company posted a consolidated net profit of 13.4 crore this quarter. While this was going on, its operating revenue for the first quarter of FY23 increased from 24.5 crore to 160 crore (YoY).
The company’s EBITDA (profits before interest, taxes, depreciation, and amortisation) increased to 19 crore from a loss of 1 crore in the same quarter last year. The EBITDA margin for the quarter under review was 12%.
DreamFolks Services, an airport service aggregator, saw strong market market debut on Tuesday with shares trading at a premium of 56% over their IPO issue price of $326. 56.68 times were subscribed to the DreamFolks Services Initial Public Offering (IPO) last month.
The promoters Liberatha Peter Kallat, Dinesh Nagpal, and Mukesh Yadav offered up to 1.72 equity shares as part of the first public offering (IPO). The public offering was priced between $308 and $326 per share and made up 33% of the company’s post-offer paid-up equity share capital.
Positive market emotions, promising future developments, and an extraordinary response from investors are all factors that contributed to the company’s outstanding listing. Due to its first mover advantage and dominant position in the lounge access industry, the company is primed to develop enormously in the future and will be among the major benefactors of the rising air travel in India. A stop loss of Rs. 457 may be maintained by those who applied for listing profits. Only long-term investors who are willing to take on a moderate to high level of risk should invest after listing, according to Santosh Meena, Head of Research at Swastika Investmart Ltd.
The business makes it easier for customers to access services associated to airports, such as lounges, food and drink, spa, meet and assist airport transportation, transit motels or nap rooms, and baggage transfer services. With a market share of more than 80% in the domestic lounge access market, it is a powerful player and India’s largest airport service aggregator platform, enabling customers to enjoy an improved airport experience by utilising a technology-driven platform.