Wise Travel India (WTICAB) H2 23/24 earnings summary

Executive summary

• FY24 delivered strong growth: consolidated revenue was ₹410.60 crore and net profit ₹23.22 crore; domestic operations span 250+ cities, with a Dubai self-drive business launched through a wholly owned subsidiary.

• The business serves corporate and retail mobility needs through car rentals, employee transportation, managed transport, fleet services, airport counters and related offerings.

Financial highlights

• Standalone FY24 revenue from operations was ₹409.91 crore versus ₹249.60 crore in FY23; net profit was ₹24.18 crore versus ₹10.30 crore.

• Consolidated FY24 revenue from operations was ₹410.60 crore versus ₹249.60 crore in FY23; net profit was ₹23.22 crore versus ₹10.32 crore.

• Consolidated total income was ₹414.09 crore; operating expenses were ₹321.49 crore, employee costs ₹27.35 crore, finance costs ₹3.67 crore and depreciation ₹11.60 crore.

• Standalone EPS was ₹13.31 versus ₹6.00; consolidated EPS was ₹12.79 versus ₹6.02, with FY23 EPS restated for the 9:2 bonus issue.

• Reported FY24 EBITDA was ₹47.13 crore, EBITDA margin 11.40%, PAT margin 5.85% and net worth ₹149.59 crore.

Outlook and guidance

• Management targets continued revenue CAGR of 37%, with a projected five-year CAGR of 35–40%, through expansion and customer acquisition and retention.

• Priorities include improving fleet capacity utilization, revenue and margins, reducing costs, expanding employee transportation and car rentals, and consolidating operations across 250+ cities.

• Plans include expanding internationally and pursuing partnerships with global car-rental brands; Dubai self-drive services mark the first international expansion.