Travel Food Services (TFS) saw its shares slip more than 3% in early trade after the company posted a soft set of numbers for the September quarter. The aviation and travel F&B operator reported a noticeable decline in revenue and profitability on a year-on-year basis, even though its operating margin improved. As of 9:56 AM, the shares were trading 2.78% higher at Rs 1,239.90.
The company’s consolidated revenue came in at Rs 356 crore, down 28.9% from Rs 500 crore in the same quarter last year, reflecting slower demand and muted volumes across its travel-based outlets. EBITDA also dropped 15.5% to Rs 135 crore compared to Rs 160 crore earlier. Despite the fall in earnings, the EBITDA margin expanded to 38% from 32%.
Net profit, however, declined 10.6% to Rs 95.7 crore versus Rs 107 crore last year.
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