RateGain’s consolidated profit after tax (PAT) zoomed 74% to INR 52.2 Cr in the quarter ended September 2024 (Q2 FY25)
The company's operating revenue rose 18% to INR 277.2 Cr during the quarter under review from INR 234.7 Cr in Q2 FY24
Meanwhile, its total expenses increased 2.7% QoQ and 13.5% year-on-year (YoY) to INR 226 Cr during the quarter under review
Traveltech SaaS company RateGain’s consolidated profit after tax (PAT) zoomed 74% to INR 52.2 Cr in the quarter ended September 2024 (Q2 FY25) from INR 30 Cr in the year-ago period.
On a sequential basis, PAT grew 15% from INR 45.3 Cr.
Meanwhile, operating revenue rose 18% to INR 277.2 Cr during the quarter under review from INR 234.7 Cr in Q2 FY24. On a quarter-on-quarter (QoQ) basis, it rose 6.6% from INR 260 Cr.
The company’s total revenue stood at INR 294.5 Cr in Q2 FY25, up 23.5% from INR 238.3 Cr in the year-ago period. Sequentially, it rose 5.85% from INR 278.2 Cr.
EBITDA rose 29.7% year-on-year (YoY) and 21% QoQ to INR 60.2 Cr during the quarter under review, while EBITDA margin expanded to 21.7% from 19.8% in the year-ago quarter and 19.1% in the preceding June quarter.
Total expenses increased 2.7% QoQ and 13.5% YoY to INR 226 Cr during the quarter under review.
Employee costs accounted for the biggest chunk of expenses, rising 10.4% to INR 104.5 Cr from INR 94.3 Cr in the year-ago period. On a QoQ basis, it increased 1.75% from 102.7 Cr.
“We are pleased to report a healthy operating performance for Q2, marked by a steady well-rounded growth and robust operating margin expansion of 190 basis points YoY. This demonstrates the strength of our SaaS based business model with its resilient and predictable revenue streams,” said Tanmaya Das, chief financial officer of RateGain, in a statement.
The company released the results during market hours. Its shares ended the day 1.8% higher at INR 834.90 on the BSE.
Rategain
offers SaaS solutions for the travel and hospitality industry. It works with more than 3,000 customers and 700 partners spanning 100 countries.
The company had 3,225 customers at the end of the first half (H1) of FY25, down from 3,279 customers at the end of FY24.
RateGain said it bagged INR 127.5 Cr worth of new contracts in the quarter under review, while its annual recurring revenue (ARR) stood at INR 1,109 Cr.
In terms of segment, martech recorded a 25% revenue growth in the first half of FY25. The growth for data-as-a-service (DAAS) segment was at 19% and for distribution at 9.6%.
The company also announced the resignation of Thomas P. Joshua from the position of company secretary and compliance officer. He has been replaced by Mukesh Kumar, effective from today (November 11).
Earlier, Kumar held the position of senior vice president – company secretary & chief compliance officer at PVR INOX.
Earlier this year in September, the company’s executive vice president of product management Nitin Kumar resigned from his post.
