EFC India Q3 results: Profit up tenfold to Rs 21.17 cr, income to Rs 329 cr | Business Results – Business Standard
Co-working firm EFC (I) Ltd’s consolidated net profit rose almost tenfold to Rs 21.17 crore for the quarter ended December.
Net profit stood at Rs 2.14 crore in the year-ago period.
Consolidated revenues grew to Rs 173.69 crore during the October-December period of this fiscal, against Rs 26.38 crore in the corresponding period of this fiscal, EFC (I) said in a statement on Monday.
In the first nine months of this fiscal, the company’s net profit rose to Rs 35.37 crore, compared to Rs 3.80 crore in the same period of the previous fiscal.
Total income rose sharply to Rs 329.66 crore during April-December period this fiscal, against Rs 41.43 crore in the year-ago period.
Umeash Sahhaaii, Founder and CEO, EFC (I) Ltd, said, “India is witnessing an exponential growth in co-working spaces, with it becoming a preferred choice among freelancers, SMEs, startups and even multinationals due to the flexibility and network benefits.”
Headquartered in Pune, EFC has a presence in seven states, spread across over 35 centers covering a total area of 1.5 million square feet. It has expanded its capacity by over 50 percent in the last eight to nine months from 23,000 seats at the beginning of this fiscal to 35,000 seats.
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First print: February 12, 2024 | 4:33 PM IST