The Revenue recorded is at INR 3,208mn, up 20% YoY and Adjusted EBITDA is recorded at INR 258mn which grew by 30% YoY
DreamFolks Services Limited, one of the travel and lifestyle service aggregators in India announced the financial results for the first quarter ended June 2024.
As per the company’s official statement, revenue from operations increased around 20%Y-O-Y in Q1FY25, reaching INR 3,208mn compared to INR 2,663mn in Q1FY24. The company achieved a gross margin of 11.7% and an Adjusted EBITDA margin of 8.0% for the quarter.
A key highlight in this quarter is the 2.8% year-over-year growth in passenger volumes. This growth occurred even though many clients shifted from offering blanket benefits to implementing spend-based programs.
Liberatha Kallat, Chairperson and Managing Director, commented on the performance,“We are on track to achieve a revenue growth of 20%, a gross margin of 11-13% on a yearly basis, which is in line with our guidance for FY25. Given the seasonality and contract renewal cycle of our business, the first two quarters in a fiscal see margin compression as compared to the second half of the year where we see the margins expand.”
She further added, “We continue to take strides towards becoming a one-stop aggregator of lifestyle services in the country and will continue to take initiatives in line with our business strategies of adding new contemporary services other than lounges, increasing wallet share with existing clients, expanding & diversifying our client base and expanding geographically. In line with our strategy of adding more contemporary services into our portfolio, we have introduced a new service – Doctor consultation and Medicine on call during the quarter.”
