PropertyGuru bounces back to profit with $3.8m net income in Q2 22
This is compared to a net loss of $139.8m a year ago.
Property tech firm, PropertyGuru Group Limited, recorded a net income of $3.8m in the second quarter (Q2) of 2022, a reversal from a net loss of $139.8m in the same period last year.
Its total revenue went up by 44% to $33m in Q2 2022 compared to a year earlier whilst its total revenue for the first half of this year was at $61.3m.
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PropertyGuru CEO and Managing Director Hari Krishnan attributed the improvement in its profit to higher customer value proposition and enhanced customer experience.
“Going forward, we expect to capitalise on both organic and inorganic opportunities to further expand our world-class solutions to customers. Even with our growing business strength, we remain vigilant around potential market challenges from rising inflation and interest rates and other global macro headwinds,” added Krishnan.
Joe Dische, chief financial officer of PropertyGuru, said their growth was balanced across all their segments.