IT software products company RateGain Travel Technologies announced Q1FY24 results:
- Q1FY24 vs Q1FY23:
- Operating revenue at Rs 2,144.8 million v/s Rs 1,193.0 million (up 79.8% YoY)
- Total revenue at Rs 2,204.6 million v/s Rs 1,270.5 million (up 73.5% YoY)
- EBITDA at Rs 377.9 million v/s Rs 119.3 million (up 216.8% YoY)
- PAT at Rs 249.1 million v/s Rs 84.2 million (up 195.8% YoY)
- EBITDA margin at 17.6% v/s 10.0%
- PAT margin at 11.6% v/s 7.1%
Sharing his views on what helped in driving the performance this quarter, Bhanu Chopra, Founder and Chairman, RateGain Travel Technologies, said, “We saw another great quarter with tremendous growth basis addition of new clients and expansion within our key accounts. With people’s attitudes changing towards having more experiences, travel industry at macro level continues to witness robust demand.
RateGain is at the forefront of digitizing this industry and in a great place to capitalize on the tailwinds our industry is witnessing. We are now focusing on our next big goal of doubling revenues in the next three years as we continue to witness robust traction with key clients and add new logos to propel our future growth. We have already started building the organization we need to accelerate RateGain towards that goal and are excited about the future.”
Commenting on the key metrics, Tanmaya Das, Chief Financial Officer, RateGain Travel Technologies, said, “Our focus of driving deeper relationships with enterprises has helped us deliver strong revenue growth with healthy margin expansion in a seasonally soft quarter. With operating leverage playing out, we continue to build on the path of sustainable growth.
Adara continues to build on its momentum and delivered a strong quarter across growth and margins, underlining the strength of the platform. Our inorganic growth approach continues to be a key pillar of our growth strategy as we focus to build a comprehensive revenue maximization solution to further our goal of doubling revenue in the next three years.”