- Traveltech SaaS startup RateGain’s consolidated profit after tax more than doubled, increasing from INR 12.96 Cr in the same period the previous year to INR 30.04 Cr in the second quarter of the financial year 2023-24 (FY24).
- On a quarter-on-quarter (QoQ) basis, the company’s profit after tax grew by 21% from INR 24.9 Cr.
- RateGain reported a substantial year-on-year (YoY) jump in operating revenue, with an 88.4% increase to INR 234.7 Cr in Q2 FY24. This was also a growth of over 17% from INR 124.61 Cr in the preceding quarter.
- The EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) margin expanded to 19.8% from 14.1% in the corresponding quarter of the previous year.
- RateGain’s EBITDA surged by 163.9% YoY, reaching INR 46.4 Cr.
- RateGain attributed its strong performance to the expansion of relationships with marquee enterprise customers in the travel and hospitality space, the addition of new clients, and the successful monetization of key contract wins over the past few quarters.