RateGain Travel Technologies advanced 3.30% to Rs 373.90 after the company reported a net profit of RS 13.23 crore in Q3 FY23, steeply higher than Rs 0.09 crore recorded in Q3 FY22.
Revenue from operations jumped 39.7% to Rs 138.28 crore in Q3 FY23 as compared with Rs 99 crore in Q3 FY22. Profit before tax stood at Rs 14.71 crore in Q3 FY23, steeply higher than Rs 0.42 crore in Q3 FY22.
EBITDA jumped 147.5% to Rs 22.93 crore in Q3 FY23 as compared to Rs 9.26 crore in Q3 FY22. EBITDA margin stood at 16.6% in Q3 FY23 as against 9.4% in Q3 FY22.
The company said that while the global business environment has been challenging for most of FY23, the travel industry has seen healthy growth helping the company to report its best quarter yet on new contract wins recorded at Rs 49.26 crore.
It further stated that with the opening of China, and a strong increase in outbound international travel expected from the United States - the travel and hospitality industry is expected to see healthy growth, but at the same time will need to modernize their existing technology systems to deliver at scale without any interruptions, and this is expected to benefit technology players like RateGain.
Recurring revenues for the quarter stood at 99% and the Annual Recurring Revenue continues to grow at a steady pace to Rs 553.1 crore. The LTV to CAC for 9M FY23 came in at 22.8x as the company continues to give more value to customers.
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Bhanu Chopra, Founder and Chairman, RateGain Travel Technologies, said, We continue to drive consistent and resilient performance on the back of expansion of existing relationships with enterprise customers.
Our businesses continue to witness good traction and deliver strong growth, contributing to improving margins.
I am also excited about our recent acquisition of Adara and the opportunity ahead of us, as we look to re-capture and re-activate the client base to drive growth. This will also unlock further opportunities to grab mindshare and deepen relations with our customers.
RateGain has recently completed the acquisition of Silicon Valley headquartered Adara to form the World's most comprehensive travel-intent and data platform powered by AI. Adara today is a trusted partner in data collection and management for helping enterprise chains in Travel and Hospitality to win in the fast-paced digital economy by allowing them to drive optimal marketing campaignstargeted at the right audience.
The acquisition is in line with the vision of the company to be the leading revenue maximisation SaaS platform for the travel and hospitality sector and will allow it to deepen relationship with leading companies in this segment.
Rategain Travel Technnologies is an information technology company providing innovative solutions to help clients in the hospitality and travel industry to achieve their business goals.
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