The listed travel tech company’s net profit also zoomed 48% QoQ to INR 50.02 Cr in Q4 FY24
Operating revenue surged to 36% YoY to INR 255.81 in the quarter
RateGain’s operational revenue grew 69% to INR 957.03 Cr in FY24 from INR 565.12 Cr in the previous year
Traveltech company rategain
’s consolidated profit after tax (PAT) zoomed 48% to INR 50.02 Cr in the quarter ended March 31, 2024 (Q4 FY24) from the INR 33.78 Cr profit it reported in the year ago.
In Q4 FY24, RateGain saw a 24% jump in profits from the previous quarter’s INR 40.42 Cr. For the full fiscal year of FY24, the company’s profits more than doubled to INR 146.39 Cr from FY23’s INR 68.40 Cr.
RateGain’s operating revenue surged to INR 255.81 Cr in the quarter, up 36% year-on-year (YoY) from Q4 FY23’s INR 187.72 Cr and 1.5% quarter-on-quarter (QoQ) from Q3 F24’s INR 252.02 Cr.
Meanwhile, its expenses also increased marginally in the quarter to INR 211.40, a 0.2% sequential increase from last quarter’s INR 210.86 Cr. However, the number is up 30% YoY from Q4 FY23’s INR 161.88 Cr.
In tandem with the increase in its profits for the full fiscal year, the startup’s operational revenue grew 69% to INR 957.03 Cr in FY24 from INR 565.12 Cr in the previous year. Total expenses also grew to INR 809 Cr in FY24, a 56% increase from previous fiscal’s INR 517.8 Cr.
The company’s earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter stood at INR 54.2 Cr, up 68% YoY from Q4 FY23’s INR 32.2 Cr.
Post the announcement, the startup’s stocks were trading 5.70% higher at INR 775.50 during the intra-day trading session on May 21. The RateGain stock hit a high of INR 810 per share around 2 PM on Tuesday, before settling slightly lower.
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