RateGain Q3 earnings: Profit jumps to ₹13 crore buoyed by travel demand

Its operating revenue increased to ₹1,38 crore versus ₹99 crore in the same quarter previous year.

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. This will benefit RateGain, the company said in a release post earnings announcement.

The company reported an operating margin of 16.6% in Q3FY23 against 9.4% in the corresponding period last year.

“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,” said Bhanu Chopra, Founder and Chairman, RateGain Travel Technologies.

The company recently acquired Silicon Valley-based Adara to form AI-powered data platform. Adara is a data collection and management company that helps enterprises in travel and hospitality industry by allowing them to drive optimal marketing campaigns targeted at the right audience.

The RateGain share price gained ₹12.60, or 3.48%, to ₹374.55 after the announcement of the earnings.

In a recent report, Prabhudas Lilladher gave a buy rating to the stock with a target at ₹455 and a stop loss at ₹324 based on technical analysis.

RateGain Travel Technologies listed on the bourses in December 2021.

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