Ecos (India) declines after recording contraction in net profit in Q1; EBITDA margin at 13.9%

Ecos (India) Mobility & Hospitality slipped 2.94% to Rs 482.95 after the company reported standalone net profit of Rs 13.50 crore in Q1 FY25, marking a de-growth of 2.87% as compared with the PAT of Rs 13.90 crore recorded in Q1 FY24.

Revenue from operations increased by 14.01% to Rs 148.90 crore in Q1 FY25 from Rs 130.60 crore posted in Q1 FY24.

The firm reported quarterly EBITDA of Rs 20.70 crore in Q1 FY25, registering a de-growth of 5.90% on a year-on-year (YoY) basis.

EBITDA margin was 13.9% in Q1 FY25 as against 16.9% in Q1 FY24. This decline was mainly on account of investment in manpower and increase in other costs.

Profit before tax stood at Rs 18.74 crore in the quarter ended 30 June 2024, down 1.36% YoY.

Rajesh Loomba, chairman & MD, ECOS said: "Our revenue from operations grew 14% year on year in the first quarter. This is despite the one- time business that we carried out during the G20 convention in Q1FY24.

Our business continues to gain traction, adding new customers as well as increasing our wallet share from existing customers in both chauffeured car rentals and employee transportation solutions."

ECO (India) Mobility & Hospitality is the largest chauffeur driven mobility provider, to corporates in India. The company are primarily engaged in the business of providing chauffeured car rentals (CCR) and employee transportation services (ETS) and have been providing these services to corporate customers.

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