Awfis Shares Down 4% Ahead Of Q3 Results

SUMMARY

Shares of coworking space startup Awfis fell almost 4% to INR 660.35 apiece on the BSE intraday trading session today (February 11)

To note, the stock is headed towards ending its fifth consecutive day in red, if current loss holds

However, since its public listing on the BSE, the stock has gained 64%, as of its last close

Shares of coworking space startup Awfis fell almost 4% to INR 660.35 apiece on the BSE intraday trading session today (February 11), ahead of its third quarter financial results.

As of 11:39 AM, the stock was down 3.4% at INR 663.90 per share, compared to its previous close of INR 687.40 apiece, yesterday (February 10).

The market capitalisation of the company currently stands at INR 4,702.27 Cr.

To note, the stock is headed towards ending its fifth consecutive day in red, if current loss holds. In the past five trading sessions, the company’s shares have lost about 5% in value.

Founded in 2015 by Amit Ramani, Awfis has evolved from just being a coworking network to a tech-enabled workspace solutions platform, catering to freelancers, startups, SMEs, large corporates, and MNCs.

To note, the coworking startup listed at a 12.8% premium on the exchange, last year.

As of its previous quarter, Awfis reported a consolidated net profit of INR 38.67 Cr in Q2 FY25 as against a net loss of INR 4.34 Cr in the year-ago period. Its operating revenue jumped 40.46% to INR 292.38 Cr during the quarter under review from INR 208.15 Cr, a year ago.

Shares of the company ended lower at INR 763.55 apiece on the BSE, post its second quarter results. Since then, the stock has been down about 10%.

However, since its public listing on the BSE, the stock has gained 64%, as of its last close.

It is to note that shares of listed logistics company Delhivery fell as low as 6.4% to INR 296.50 apiece, marking its fresh 52-week low on the BSE yesterday, despite strong third quarter earnings.