RateGain Travel Technologies added 4.01 per cent to Rs 294.25 after the company reported a net profit of Rs 19.57 crore in the second quarter of FY23 as compared with a net loss of Rs 3.69 crore in the second quarter of FY22. Revenue rose by 47 per cent YoY to Rs 124.61 crore in Q2FY23.
While employee expenses increased by 26 per cent year on year to Rs 57.97 crore, other expenses rose by 41.1 per cent to Rs 49.06 crore in the second quarter of FY23. Adjusted EBIDTA zoomed to Rs 18.95 crore in the second quarter of FY23 from Rs 7.03 crore in the second quarter of FY22. The adjusted EBIDTA margin was 15.2 per cent in the second quarter of FY23 against 8.3 per cent in the second quarter of FY22.
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In comparison, the company posted a pre-tax profit of Rs 15.66 crore against a pre-tax loss of Rs 1.38 crore over Q2FY23 over Q2FY22.
Bhanu Chopra, Founder and Chairman RateGain Travel Technologies, said, “We continue to deliver on our promise of responsible growth, and with operating leverage unfolding, we are delighted to report our highest operating margin in the past 10 quarters. This has been achieved by expansion of existing relationships while costs remained flat.”
