Ecos Mobility reports 15% YoY revenue growth in Q1 FY25
Ecos (India) Mobility & Hospitality Limited, one of the largest chauffeur-driven mobility providers to corporates in India, announced its unaudited financial results for the quarter ended June 30, 2024. The company reported a 14.76% year-on-year (YoY) growth in total revenue, which stood at ₹151.6 crore for Q1 FY25, compared to ₹132.1 crore in Q1 FY24. Revenue from operations also increased by 14.01% YoY to ₹148.9 crore.
Despite the growth in revenue, EBITDA (excluding other income) saw a slight decline of 5.91%, amounting to ₹20.7 crore in Q1 FY25 compared to ₹22 crore in the same quarter last year. This resulted in a decrease in EBITDA margin from 16.9% to 13.9%, attributed to increased manpower and operational costs. Profit after tax (PAT) remained relatively flat at ₹13.5 crore in Q1 FY25 against ₹13.9 crore in Q1 FY24.
Commenting on the results, Rajesh Loomba, Chairman and Managing Director of Ecos, expressed satisfaction with the company’s performance, especially in light of the one-time business generated during the G20 convention in the previous fiscal year. He emphasized Ecos’ focus on adding new customers, increasing revenue from existing clients, and expanding its services across smaller towns and cities in India.
Ecos Mobility, established in 1996, provides chauffeur-driven mobility services to over 1,100 corporate clients, including Fortune 500 companies, across 109 cities in India. The company operates a fleet of over 12,000 vehicles, ranging from economy cars to luxury coaches, and serves global car rental needs in more than 30 countries.
