Awfis Space Solutions shares dropped in the morning trade on November 12 after the working space operator returned to black in the second quarter for the current fiscal.
The company reported a net profit of Rs 38.6 crore in the September quarter of the 2024-25 financial year. It had reported a loss of Rs 4.3 crore in the same period a year ago.
The revenue was up 40.5 percent at Rs 292.3 crore for the quarter under review against Rs 208 crore in the same period of the previous year.
The Earnings before interest, taxes, depreciation and amortization (EBITDA) was up 67.4 percent at Rs 100 crore against Rs 59.8 crore in the year ago period, while the margin was reported at 34.3 percent against 28.8 percent a year ago.
The shares of the company dropped 6.36 percent to its intraday low of Rs 728 per share on the NSE in the early trade. However, later it rebounded and was trading flat at Rs 774.30 apiece on the NSE, down 0.41 percent.
The counter made its intraday high at Rs 810 per share, rising 4.18 percent from its previous close.
Shares of the company were listed on the exchanges in May this year after listing at a premium of 12.86 percent at Rs 432.25 against the issue price of Rs 383 on BSE. The initial public offering (IPO) of co-working space operator Awfis Space Solutions was subscribed a whopping 108.17 times.
Awfis provides flexible workspace solutions, ranging from individual flexible desk needs to customised office spaces for corporates.
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