Dreamfolks Services share price crashes 4% after THIS reported move by ICICI Bank, Axis Bank, Mastercard
DreamFolks Services' share price fell 4% to ₹252 amid concerns as major banks like ICICI and Axis consider direct partnerships with lounge operators, moving away from the aggregator. The company's recent service disruption affected thousands, prompting this shift.
Dreamfolks Services share price crashed 4 per cent to ₹252 apiece on the National Stock Exchange (NSE) in Thursday's trading session amid reports that several banks and card networks are planning to shift away from the company amid service disruptions.
According to a PTI report, several leading Indian banks and card networks — such as ICICI Bank, Axis Bank, and Mastercard — are planning to shift away from aggregator DreamFolks Services Ltd and instead form direct alliances with airport lounge operators, with others likely to adopt a similar approach, thus pressuring the stock.
DreamFolks Services stock had opened in the green, however, it slipped into the red amid the report.
On September 22 last year, DreamFolks, a global aggregator of travel and lifestyle services that provides lounge access at multiple airports, experienced a "temporary service disruption" which affected lounge access for thousands of customers linked to various banks and card networks.
According to the report, the issue was resolved the following day, however, it prompted banks and card networks to explore alternative solutions. Axis Bank, ICICI Bank, and Mastercard are at the forefront, with more banks likely to join soon.
Dreamfolks, a leading airport lounge operator in India, asserts that it holds a 90 per cent share of the domestic lounge access market for debit and credit card users.
In September, passengers across the country encountered difficulties accessing airport lounges due to a sudden shutdown of at least 49 lounges at 34 airports, as per reports.
Dreamfolks Services Q4 results 2025
Dreamfolks Services reported a 17.09 per cent drop in net profit to ₹14.94 crore for the March 2025 quarter, compared to ₹18.02 crore in the same quarter of the previous year. However, revenue for the quarter increased by 11.75 per cent to ₹314.16 crore, up from ₹281.14 crore in March 2024.
For the full financial year ended March 2025, the company’s net profit declined by 5.17 per cent to ₹65.43 crore from ₹69 crore in the previous fiscal. Annual revenue, however, grew by 13.82 per cent, reaching ₹1,291.88 crore as against ₹1,135.01 crore in the year ended March 2024.
Established in 2013, DreamFolks is a publicly listed company and a prominent airport services aggregator in India, providing travelers with access to a range of airport-related services and serving as a platform for clients such as banks, card networks, and airlines.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.