RateGain Travel Shares Surge To Over Two-Month High On Q4 Profit Rise
Net profit was up 23.8% sequentially to Rs 50 crore during the January-March period.
RateGain Travel Technologies Ltd.'s shares jumped over 11% to the highest level since March on Tuesday, after the company's net profit rose in the fourth quarter of fiscal 2024.
Net profit was up 23.8% sequentially to Rs 50 crore during the January-March period, as compared with Rs 40 crore in the previous quarter.
RateGain Travel Q4 FY24 Highlights (Consolidated, QoQ)
Net profit rose 23.8% to Rs 50 crore from Rs 40 crore.
Revenue increased 1.5% to Rs 256 crore from Rs 252 crore.
EBIT rose 7.8% to Rs 45 crore from Rs 42 crore.
EBIT margin expanded 100 basis points to 17.5% vs 16.5%.
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Shares of RateGain Travel rose 11.35% intraday, the highest level since March 11. It pared gains to trade 5.47% higher at 2:46 p.m., as compared with a 0.19% advance in the NSE Nifty 50.
The stock has gained 100.31% in 12 months, and 6.36% year-to-date. Total traded volume so far in the day stood at 7.8 times its 30-day average. The relative strength index was at 67.08.
All six analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average 12-month analysts' price target implies an upside of 19.5%.
