Now Reading: Awfis Q1 net profit more than doubles, revenue up 27%
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Awfis Q1 net profit more than doubles, revenue up 27%
Awfis, the co-working space operator, reported a net profit of Rs 24 crore for the June quarter, more than double from a year earlier. Revenue from operations rose 27% year-on-year to Rs…
The Story in Brief
Awfis, the co-working space operator, reported a net profit of Rs 24 crore for the June quarter, more than double from a year earlier. Revenue from operations rose 27% year-on-year to Rs 266 crore, as per its quarterly results filed with the stock exchanges, Inc42 reports. The company, which went public in May 2024, has been expanding its network across Tier 1 and Tier 2 cities to capture growing demand for flexible office space.
The Indian Opinion
Co-working operator Awfis reports a 100% jump in net profit, yet the stock market barely blinks. Headlines cheer ‘doubling profits’ while the street watches topline growth slow. For every flex-space bull, there is a bear who remembers how many such operators burned cash for market share. The real test is not one quarter of profitability but whether Awfis can sustain this margin without raising rents. What will the occupancy cost and EBITDA margin look like at the half-year mark?
Source: inc42.com
This story was synthesised by AI from the source linked above.
