EFC Ltd's Quarterly Profit Soars Nearly 5-Fold to Rs 15.77 Crore

Co-working firm EFC (I) Ltd has reported a substantial increase in its consolidated net profit, which soared nearly five-fold to Rs 15.77 crore in the June 2024 quarter due to increased income.

The company's net profit in the corresponding period last year stood at Rs 3.17 crore. Total income for the April-June quarter of this fiscal year rose to Rs 105.28 crore from Rs 57.04 crore year-over-year.

In a statement, EFC attributed Rs 66.79 crore of its revenue to its real estate leasing business and Rs 35.30 crore from its commercial property fit-outs segment. Founder & CEO Umesh Sahay cited the company's strategic initiatives and expansion efforts as key factors behind the robust growth.

(With inputs from agencies.)