Share prices of India’s largest SaaS company in the hospitality and travel industry moved up by 6.31 percent and closed at Rs. 845.55, compared to its previous closing price of Rs. 795.40, after the company announced its financial results for the December 2023 quarter on Friday.
With a market cap of Rs. 9,961.88 crore, the share price of RateGain Travel Technologies Ltd. opened at Rs. 806.70 on Friday. The company has delivered nearly 83.82 percent returns in the last six months, whereas it has given more than 145.6 percent in the last one year. So far, it has given negative returns of around 18.36 percent in 2024.
The fluctuations in the share prices were observed after the company announced its financial results on Friday, for the third quarter and nine months ended 31st December 2023, through a recent filing with the stock exchanges.
The net profit of the company increased by 34.6 percent on a QoQ basis from Rs. 30.04 crore in Q2 FY23-24 to Rs. 40.42 crore inQ3 FY23-24.
On a year-on-year basis, the net profit increased by 205.5 percent to Rs. 40.42 crore in Q3 FY23-24 from Rs. 13.23 crore in Q3 FY22-23.
The company’s revenue from operations increased by nearly 82.2 percent on a year-on-year basis from Rs. 138.3 crore in Q3 FY22-23 to Rs. 252.02 crore in Q3 FY23-24.
On a quarterly basis, the revenue from operations of the company grew by 7.4 percent from Rs. 234.72 crore in Q2 FY23-24 to Rs. 252.02 crore in Q3 FY23-24.
As of December 2023, FIIs hold 8.67 percent of the shares, whereas DIIs hold 18.77 percent of the shares in the company, aggregating to 27.44 percent of the institutional holdings.
Founded in 2004, RateGain Travel Technologies Ltd. is a leading global provider of SaaS solutions for the travel and hospitality sector.
The company works with over 3,100 customers and 700+ partners in more than 100 countries, assisting them in accelerating revenue generation through acquisition, retention, and wallet share expansion.
Written by Shivani Singh
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