Shares of this leading distribution technology company gained 3.95 percent today after the company reported results for Q2FY24. The company has a market capitalization of Rs. 6525.23 crores.
On 27th October 2023 shares of Rategain Travel Technologies Ltd closed at Rs. 625 per share, up by 3.95 percent from previous closing price of Rs. 601.25 per share.
Such bullish stock price movements were observed after the company announced results for Q2FY24 and reported revenue growth of 81.4 percent to Rs. 238.3 crores from Rs. 131.4 crores in the same quarter of last financial year, in the same time period profit after tax (PAT) increased by 131.7 percent to Rs. 30 crores from 12.9 crores. Moreover, EBITDA margins also increased by 5.7 percent to 19.8 percent.
Looking at the profitability ratios, the company reported return on equity (ROE) of 10.54 percent and return on capital employed (ROCE) of 10.65 percent in the last financial year.
The company’s promoters possess roughly 55.72 percent of the shares, while public own 21.06 percent, and Domestic Institutional Investors (DIIs) have a 17.8 percent stake, leaving the remaining 5.42 percent with foreign institutional investors (FIIs).
RateGain Travel Technologies Ltd is a global leader in distribution technology and the biggest Software as a Service (SaaS) provider in the Indian travel and hospitality sector. The company provides a wide range of SaaS services to the travel and hospitality industry including hotels, airlines, online travel agents, meta-search companies, package providers, car rentals, cruises, and ferries.
Written by: Vinit Israni
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