Rentomojo shares hit a day high of Rs 543.20 on 6 October after the firm posted over 51% revenue growth in its first results since listing.

The board cleared the June quarter numbers on 5 October. They are the first Rentomojo has shared since its shares debuted on 17 September.

Revenue for the quarter came in at Rs 126.3 crore, up by over 51% from a year ago.

Put simply, the company is renting out far more furniture and appliances than before.

Profit took a hit, though. Profit after tax fell about 39% to Rs 7.8 crore.

The reason was a fire at one of Rentomojo’s warehouses, which caused a one-time loss of Rs 11.3 crore.

Management told sources the fire affected about 2% of its inventory. Without that loss, net profit would have grown 71.8% to Rs 21.9 crore.

Demand from customers persisted. Live goods increased to 9.22 lakh from 6.54 lakh last year, while platform orders increased by 45.8% to 3.29 lakh.

Occupancy improved to 86.8% from 84.8%. Each item also earned a little more, with average revenue per item at Rs 1,662.6 against Rs 1,557.2 a year earlier.

Rentomojo listed on 17 September after pricing its IPO at Rs 404 a share.

The company said it has grown at about 40% a year in recent years and describes itself as the largest player in its segment by subscribers.

At 9:56 am, the stock traded at Rs 534.40 on NSE, up Rs 23.45 or 4.59%. That is about 32% above the IPO price.

Around 26.42 lakh shares had changed hands by then, and the company’s market value stood near Rs 5,584 crore.

The future of investing is here! Tradz by EquityPandit leverages advanced AI technology to provide you with powerful market predictions and actionable stock scans. Download the app today and 10x your trading & investing journey!