Shares of Awfis Space Solutions rallied 5.45% to Rs 527.15 after the company reported a consolidated net profit of Rs 1.37 crore in Q4 FY24, compared to a net loss of Rs 13.85 crore in the same quarter last year.
Revenue from operations jumped 45.2% to Rs 232.32 crore in Q4 FY24, up from Rs 160 crore in Q4 FY23.
The company reported a pre-tax profit of Rs 1.37 crore during the quarter, against a pre-tax loss of Rs 13.8 crore in Q4 FY23.
EBITDA stood at Rs 76 crore, marking a growth of 43.4% compared to Rs 53 crore in the same quarter last year. However, the EBITDA margin contracted slightly to 31.5% in Q4 FY24 from 32.1% in Q4 FY23.
Revenue from co-working space rentals and allied services jumped 27.15% to Rs 167.81 crore in Q4 FY24, up from Rs 131.98 crore in Q4 FY23. Revenue from construction and fit-out projects surged to Rs 57.62 crore in Q4 FY24, compared to Rs 23.05 crore in Q4 FY23.
For the full year, the company reported a consolidated net loss of Rs 17.56 crore in FY24, an improvement from a net loss of Rs 46.63 crore in FY23. Revenue from operations increased by 55.66% year-on-year to Rs 848.81 crore in FY24.
As of 10:47 am, the shares were trading 4.72% higher at ₹523.45 on the NSE.
