Awfis Reports 93% Profit Increase for September Quarter
Coworking space operator Awfis reported a net profit of ₹30.8 crore for the second quarter of the fiscal year, marking a 92.8% increase compared to the same period last year.
Awfis, a provider of flexible workspace solutions, announced a significant growth in profitability for the quarter ending September. The company's consolidated net profit reached ₹30.8 crore, up from ₹16 crore recorded during the same period in the previous fiscal year. This 92.8% increase also reflects a 28.5% improvement on a sequential basis from the June quarter.
Operating revenue for the period rose to ₹438.7 crore, representing a 19.6% year-on-year growth from the ₹366.9 crore reported a year ago. Revenue growth was more modest on a quarterly basis, showing a 3.2% increase from ₹424.9 crore.
The company’s total income for the quarter reached ₹464.3 crore, bolstered by ₹25.6 crore in other income. While top-line performance improved, operational costs also rose; total expenses grew 15% year-on-year, reaching ₹433 crore as the company scales its physical footprint.
As the flexible office market in India continues to experience demand from hybrid-working models, Awfis’ latest financial disclosures suggest continued momentum in its scaling strategy. The company reported tax expenses of ₹44.2 lakh and no exceptional items for the quarter.