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Home / Companies / Company Results /  Dreamfolks Services announces Q1 results on listing day, swings to profit
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On the first day of its stock market debut, Dreamfolks Services disclosed its financial results for the first quarter ended June 2022. The company reported a consolidated net profit of 13.4 crore as compared to reporting a loss of 1.4 crore in the year-ago quarter. Meanwhile, its revenue from operations during Q1 FY23 rose to 160 crore from 24.5 crore year-on-year (YoY).

Its EBITDA (earnings before interest, taxes, depreciation, and amortization) rose to 19 crore as compared to EBITDA loss of 1 crore in the same quarter last year andCons EBITDA margin came at 12% during the quarter under review.

Shares of airport service aggregator DreamFolks Services made a strong market market debut on Tuesday with a premium of 56% over its IPO issue price of 326. The Initial Public Offer (IPO) of DreamFolks Services was subscribed 56.68 times last month. 

The IPO was entirely an Offer-For-Sale (OFS) of up to 1.72 equity shares by promoters Liberatha Peter Kallat, Dinesh Nagpal and Mukesh Yadav. The public issue constituted 33% of the post offer paid-up equity share capital of the company and was priced in the range of 308-326 a share.

“The company’s superb listing can be attributed to positive market sentiments, bright future prospects, and a phenomenal response from investors. The company will be one of the biggest beneficiaries of the rising air travel in India and due to its first mover advantage and dominant position in the lounge access market, the company is poised to grow exponentially in the future. Those who applied for listing gains can maintain a stop loss of Rs. 457. Only long-term investors with a moderate to high-risk appetite should enter post-listing," said Santosh Meena, Head of Research, Swastika Investmart Ltd.

 

The company facilitates consumers' access to airport-related services like lounges, food and beverages, spa, meet and assist airport transfer, transit hotels or nap rooms, and baggage transfer services. It is a dominant player and India's largest airport service aggregator platform (with a share of over 80% in the domestic lounge access market) facilitating an enhanced airport experience to passengers leveraging a technology driven platform.

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