RateGain Travel shares rise 19%, hit record high on Q1 earnings; check details

Shares of RateGain Travel Technologies Ltd hit their record high today after the global provider of SaaS solutions for travel and hospitality announced its Q1 earnings. The firm logged a revenue growth of 79.8% year-on- year at Rs 214.48 crore for the first quarter ended on June 30, 2023 against Rs 119.30 crore in the June 2022 quarter.  

RateGain Travel shares rose 19.54% to a record high of Rs 578 against the previous close of Rs 483.50 on BSE. The stock has gained 89.38% in one year and risen 83.11% since the beginning of this year. Market cap of the firm stood at Rs 5769 crore.  

Total 2.66 lakh shares of the firm changed hands amounting to a turnover of Rs 14.29 crore on BSE.         

In terms of technicals, the relative strength index (RSI) of the stock stands at 73.1, signaling it's trading in the overbought zone. RateGain Travel shares have a beta of 0.7, indicating low volatility in a year. RateGain Travel shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.   

Net profit zoomed 196% to Rs 24.91 crore in the first quarter of FY24 against Rs 8.42 crore in the corresponding quarter of last year. 

EBITDA climbed to Rs 37.79 crore in the June quarter from Rs 11.93 crore a year ago. Operating margins improved 10% to 17.6% for the June 2023 quarter. EPS rose to Rs 2.30 in the June 2023 quarter against EPS of Rs 0.78 in the June 2023 quarter.  

RateGain Travel Technologies processes electronic transactions and price points for the travel and hospitality industry. The company operates through three segments, namely marketing technology (MarTech), distribution, and data as a service (DaaS). It offers travel and hospitality solutions across a spectrum of verticals including hotels, airlines, online travel agents (OTAs), meta-search companies, vacation rentals, package providers, car rentals, rail, travel management companies, cruises and ferries.  

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