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Dreamfolks hits record high; rallies 16% in two days on healthy Q4 results

The stock hit a record high of Rs 592.15 in intra-day today, and was trading 82 per cent higher against its issue price of Rs 326 per share.

Photo: Kamlesh Pednekar

Photo: Kamlesh Pednekar

SI Reporter Mumbai

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Shares of Dreamfolks Services hit a record high of Rs 592.15, surging 10 per cent on the BSE in Wednesday’s intra-day trade after the company reported over 100 per cent jump in profit after tax (PAT) at Rs 25.30 crore in March quarter (Q4FY23), on back of healthy operational income. It had posted PAT of Rs 8.98 crore in a year ago quarter (Q4FY23).

In past two trading days, the stock has rallied 16 per cent. It surpassed its previous high of Rs 550, touched its market debut day - September 6, 2022. Currently, the stock quoted 82 per cent higher as against its issue price of Rs 326 per share. In comparison, the S&P BSE Sensex was up 0.19 per cent at Rs 62,102 at 10:47 AM.

DreamFolks is India's largest airport service aggregator platform facilitating an enhanced airport experience for passengers leveraging its proprietary technology solutions. The company has a global footprint extending to more than 1,400 touchpoints in 120+ countries across the world.

In Q4FY23, the company’s revenue from operations grew 140 per cent to Rs 237.75 corre from Rs 99.16 crore in Q4FY22. Earnings before interest, taxes, depreciation and amortization (Ebitda) jumped 181 per cent YoY at Rs 35.09 crore, margins improved 210 bps at 14.8 per cent.

Over the past year, the company saw a strong resurgence in Air Travel as a consequence of multiple tailwinds. From the opening up of borders at the start of the year, major global events boosting travel and changing travel trends including revenge travel and sharply growing leisure travel, the management said.

The company is seeing new air traffic records being created each passing day. In FY23, the number of domestic passengers traffic saw a major rise of 59.74 per cent and stood at 136.03 million as against 85.15 million in the previous year.

On industry trend, the company said strong trend of premiumization seen in the country for luxury goods and services – same is evident in the case of lounges. New & advanced premium lounges coming up owing to increase in number of passengers willing to pay a premium for availing best-in-class services on a high priority basis.

With a complete market recovery, even beyond pre-Covid levels, major events across the globe and rising leisure travel, Air Traffic around the globe is rapidly increasing alongside a growing preference for comfort and luxury, the company said.

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First Published: May 24 2023 | 11:08 AM IST

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