Rentomojo shares rally 6% after Q1 revenue rises 51%, normalised PAT grows 72% YoY

What happened: Rentomojo shares rallied 6% after Q1 revenue rose 51% and normalised PAT grew 72% year on year. Key numbers: Revenue from operations up 51.1%. Normalised PAT up 71.8% YoY and 11.2% QoQ. Net profit fell nearly 39% to Rs 8 crore from Rs 13 crore. EBITDA rose to Rs 51 crore from Rs 34 crore. Margins 40.5%. Items ordered up 45.8% YoY. Why it matters: Management attributed the normalised PAT growth to excluding one time impacts of fire loss, other income, and DTA. It said the IPO strengthened net worth and balance sheet flexibility for future growth.

Rentomojo shares rallied 6% after Q1 revenue rose 51% and normalised PAT grew 72% year on year.

Management attributed the normalised PAT growth to excluding one time impacts of fire loss, other income, and DTA. It said the IPO strengthened net worth and balance sheet flexibility for future growth.