India's Rategain Travel Technologies hits 1-month high on quarterly profit

RateGain Travel Technologies

07/11/2022 08:53

** Shares of Indian travel and hospitality technology
provider Rategain Travel Technologies Ltd  RATE.NS  rise as much
as 6.6% to 303.50 rupees, highest since Oct. 7
    ** Co posts a consol net profit of 129.6 mln rupees for Sept
qtr, compared to a loss of 19 mln rupees a yr ago  urn:newsml:reuters.com:*:nFWN32203X  
    ** Posts consol rev from ops of 1.25 bln rupees, up 47% y/y 
    ** "Demand continues to remain strong across the travel &
hospitality space and we are seeing healthy traction across all
business segments" - Chairman Bhanu Chopra
    ** More than 1.5 mln shares change hands by 0848 GMT, 2.4
times their 30-day moving avg of 662,272 shares
    ** Shares down 23.5% YTD, as of last close
 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))