- Q1FY25 Revenue at Rs. 3,208 Million, up 20% YoY
- Q1FY25 Gross Profit at Rs. 376 Million, grew by 32% YoY
- Q1FY25 Adjusted EBITDA at Rs. 258 Million, grew by 30% YoY
TSNN – Gurugram, Haryana (India) – DreamFolks Services Limited, India’s largest travel and lifestyle service aggregator,has announced the financial results for the first quarter ended 30th June 2024.
Ms. Liberatha Kallat, Chairperson and Managing Director, commented on the performance: “We are happy to report a strong start to FY25. Our revenue from operations climbed approximately 20% Y-o-Y to Rs 3,208 million in Q1FY25, from Rs 2,663 million in Q1FY24. We recorded a gross margin of 11.7% and Adjusted EBITDA margin of 8.0% in Q1FY25.
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.
A notable highlight of this quarter was the growth in passenger volumes by 2.8% YoY, despite a structural shift from blanket benefit offers to the spend based program implementation, by most of our clients.
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.
We believe that with our unique business model, the tail winds from our allied industries, proprietary state-of-the-art technology platform and our foray into adjacent lifestyle services, we are confident of the long-term momentum being sustained.”
Key Financial Highlights of the Quarter (Consolidated):
| Particulars (Rs Million) | Q1FY25 | Q1FY24 | YoY | FY24 |
| Revenue from Operations | 3,208 | 2,663 | 20.5% | 11,350 |
| Gross Profit | 376 | 284 | 32.2% | 1,368 |
| Adjusted EBITDA* | 258 | 198 | 30.3% | 1,033 |
| Profit After Tax | 172 | 130 | 32.3% | 686 |
*After adjusting for non-cash ESOP Expenses
Other Highlights:
- Onboarded 6 new lounges to our network in India – 5 at domestic terminals and 1 at international terminal
- We have added 41 lounges to our network outside India
- Under the GolfKlik business service, we have added 6 domestic golf courses to our portfolio.
DreamFolks is India’s leading travel and lifestyle services aggregator, providing lounge services at Airports and Railways, Visa Application Centres, Highways; and Other Services including Golf games and lessons, Meet and Assist, Airport Transfer, Duty Free, Spa & Wellness, F&B Offers, E-Sim, Beauty and Grooming, and many other services. DreamFolks provides these services using the in-house proprietary technology platform that allows its clients such as Banks, Card Networks, Airlines, OTAs and Enterprises to create custom offerings for their end consumers. DreamFolks today manages the lounge and other benefits for most of the top Banks, Card network providers and Enterprises, including the top 5 credit card issuers in India; and has a 100% coverage across airport and railway lounges in India. As per Frost & Sullivan Report, DreamFolks enjoys a market share of over 90% in the domestic lounge access market for India-issued debit and credit programs. The company was listed in September 2022 on both BSE and NSE and has a global footprint extending to 1,500+ touchpoints in 100+ countries.s.
