Profit before tax surged to Rs 52.02 crore in the third quarter of FY24 from Rs 14.72 crore recorded in same quarter last year.

EBITDA stood at Rs 51.26 crore in Q3 FY24, registering a growth of 123.5% YoY. EBITDA margin improved at 20.3% in Q3 FY24 as against 16.6% posted in Q3 FY23.

The revenue and operating margins increased on the back of operating leverage as the company retains its focus on sustainable growth across verticals.

RateGain continued to build an integrated revenue maximization platform with a key focus on acquiring complementary capabilities and consolidate its position in the travel & hospitality industry. RateGain’s proven M&A playbook has been instrumental in turning around and driving strong performance across all its previous acquisitions.

In the existing uncertain environment, the travel and hospitality industry is increasingly relying on RateGain’s AI-led products to get accurate insights, as well as improve their acquisition efforts from all channels. The company continues to sharpen its focus to deliver strong operational performance through expansion of relationships with its marquee enterprise global customers, leading to improved monetization of existing order book and healthy new client additions.

The company stated, “With inflation cooling, and consumers looking to increase their travel spend in 2024, the industry will see further investments in adopting new technologies that help in simplifying guest acquisition, improving retention and maximising revenue. With a strengthened presence across key geographies and focus on customer first solutions, RateGain is well positioned to capture this opportunity and has a healthy pipeline of Rs 4,214.8 million”.

The firm said that it has reported another stellar quarter on the back of highest ever new contract wins contributing significantly to the annual recurring revenue of Rs 1,008.08 crore.

Bhanu Chopra, founder and chairman, RateGain Travel Technologies, said, “Our team continues to demonstrate value and add marquee global clients while increasing penetration in key accounts, helping us maintain our focus on sustainable growth.

The Industry is now moving from pricing led growth to an occupancy led growth. RateGain with its AI led products is suitably positioned to capitalize on this change and help the industry simplify guest acquisition and improve ROI. We continue to invest in areas that are critical to drive the next leg of growth and sharpen focus on execution to capitalize on emerging opportunities and drive value for our customers.”

Tanmaya Das, chief financial officer, RateGain Travel Technologies, stated, “The company has delivered another quarter of robust performance with strong growth momentum, steady margins and stellar new contract wins. The strength of the underlying business model with strong and continued execution from the team, has been key to improvement across key operating metrics.

We are focused on delivering on the stated objectives, with a healthy pipeline in tow and in line with our vision of building an integrated tech stack to help our customers increase their revenue.”

RateGain Travel Technologies is a global provider of SaaS solutions for travel and hospitality. It is one of the world's largest processors of electronic transactions, price points, and travel intent data helping revenue management, distribution and marketing teams across hotels, airlines, meta-search companies, package providers, car rentals, travel management companies, cruises and ferries drive better outcomes for their business.

The counter hit a life-time high of Rs 885 in today's intraday session.