Rentomojo stock rises 6% as Q1 revenue hits 126cr
Business
Rentomojo's stock climbed 6% to ₹542 on Tuesday, thanks to a standout first quarter.
The company's revenue shot up 50% to ₹126 crore, a big win after its recent IPO.
While net profit dipped 39% to ₹8 crore, the normalized profit after tax actually jumped 71.8%, showing solid underlying growth.
Rentomojo EBITDA 51cr, IPO subscribed 73x
Rentomojo's operations are on track, with steady profit margins and EBITDA growing from ₹34 crore to ₹51 crore as more subscribers signed up and stuck around.
Their IPO was a hit, getting subscribed 73 times, mostly by big institutional investors, which signals strong faith in where Rentomojo is headed next.