India's Rategain surges on 150X spike in Q3 net profit

RateGain Travel Technologies

10/02/2023 09:09

** Shares of RateGain Travel Technologies  RATE.NS  rise as
much as 5.32% to 382 rupees, highest in over two weeks since
Jan. 24
    ** Rise comes after co, a software-as-a-service (SaaS)
solutions provider in hospitality and travel industry, reports
more-than-150X rise in Q3 net profit to 132.34 mln rupees
    ** Core profit more than doubles to 229.33 mln rupees, while
core profit margin expands to 16.61% from 9.36%
    ** Strong profitability metrics is supported by improved
cash flow from operating activity, says RATE in an investor
presentation
    ** Co also attributes sharp rise to sustained global travel
demand and higher operational efficiency
    ** Trading volume is more than 1.18 mln shares as of 2:27
p.m. IST, 2.4x the 30-day avg of 492,354 shares: Refinitiv data 
 
    ($1 = 82.6350 Indian rupees)
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))