Small-Cap Stock Rockets to New Heights with 8X Surge in Net Profit; Investors Celebrate 5 Per Cent Gain on Strong Results
The stock has witnessed significant buying activity as it has surged more than 48 percent in the past 6 months
On Friday, shares of RateGain Travel Technologies zoomed more than 5 percent to trade at an intraday high of Rs 424 apiece on BSE. The scrip witnessed a massive spurt in volume by more than 2.06 times.
RateGain Travel Technologies delivered impressive financial results for Q4FY23. The company reported remarkable growth in operating revenue, reaching Rs 182.9 crore, a significant increase of 69.6 percent compared to the previous year's quarter. This growth demonstrates the company's strong performance and market position.
Furthermore, RateGain Travel Technologies achieved a substantial surge in EBITDA, with an impressive figure of Rs 32.21 crore. This represents notable growth of 109.7 percent on a YoY basis. The company's focus on operational efficiency and cost management has positively impacted its profitability.
The net profit of the company also showed exceptional growth, reaching Rs 33.79 crore. This reflects a remarkable increase of 191 percent from the corresponding quarter last year. The company's ability to effectively manage its expenses and optimize its revenue streams has contributed to this impressive financial performance. For FY23, the net profit zoomed more than 8X on YoY basis to Rs 68 crore.
As the travel industry transitions from legacy technology to embracing the AI revolution powered by cloud computing, RateGain emerges as a trusted partner for leading hotel chains and travel brands. The company has been at the forefront of AI and cloud technologies in the travel and hospitality sector, helping businesses transform their revenue management, distribution ecosystem, and marketing strategies to achieve better outcomes.
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RateGain Travel Technologies Limited is a global provider of SaaS solutions for travel and hospitality that works with 2800+ customers and 700+ partners in 100+ countries helping them accelerate revenue generation through acquisition, retention, and wallet share expansion.
The stock has witnessed significant buying activity as it has surged more than 48 percent in the past 6 months. Keep a close eye on this trending stock.