RateGain Travel jumps 9% to hit a new high on healthy Q1 results

Shares of RateGain Travel Technologies rallied 9 per cent to hit a new high of Rs 526.9 per share in Tuesday’s intra-day trade after the company reported a substantial 760 basis points (bps) improvement in operating margins to 17.6 per cent for the June quarter (Q1FY24).
 

The stock surpassed its previous high of Rs 511, touched on August 7, 2023. Thus far in the calendar year 2023, it zoomed 85 per cent, as compared to nearly 8 per cent rise in the S&P BSE Sensex.
 

In Q1FY24, the company’s profit after tax grew three-fold to Rs 24.91 crore, as compared to Rs 8.42 crore in the same period last year. It witnessed strong revenue growth of 79.8 per cent year-on-year (YoY) to Rs 214.48 crore.
 

 

With recent investments into expanding its sales teams and presence in key geographies, the company said that it has a healthy pipeline of Rs 361.28 crore and is focused to drive value for its customers.
 

RateGain is a global provider of AI-powered SaaS solutions for the hospitality and travel industry. The company is one of the world’s largest processors of electronic transactions, price points, and travel intent data helping revenue management, distribution, and marketing teams across hotels, airlines, meta-search companies, package providers, car rentals, travel management companies, cruises, and ferries drive better outcomes for their business.
 

The revenue maximisation solutions provided by the company continue to find favour with its key clients across the travel and hospitality space, who are looking to drive digitisation to provide their guests with a better omnichannel experience, drive efficiencies and optimize their revenue.

"Against the backdrop of an evolving global environment, the travel demand continues to hold strong, and this, will further propel investments in the space as RateGain also looks to capitalise on the opportunity and double its revenue in the next three years," the company said.