Rategain Travel Technologies Shares Rise To Over Three–Month High After Q2 Net Profit Jumps 74%
After the quarterly results were declared, Rategain Travel Technologies' share price peaked on the NSE by 4.11% to Rs 854 apiece, the highest level since July 30.
Rategain Travel Technologies Ltd.'s share price rose to its highest level in over three months on Monday as the company posted a 74% jump in its bottomline in the quarter ended Sept. 30.
The software-as-a-service provider's consolidated net profit rose to Rs 52.21 crore during the quarter from Rs 30.04 crore in the year-ago period.
The revenue grew 18.1% on an annualised basis to Rs 277.26 crore during July–September, from Rs 234.72 crore.
The operating profit rose 30% on the year to Rs 60.22 crore in the second quarter from Rs 46.42 crore in the corresponding period a year ago.
Rategain Travel's margin rose 190 basis points to 21.7% in July–September, from 19.8% in the third quarter of previous financial year.
ALSO READ
Q2 Results Updates: Hindalco Industries Profit Rises 78%; ONGC Profit Flat At Rs 9,878 Crore
Rategain Travel Technologies rose 0.94% higher at Rs 812.
After the quarterly results were declared, Rategain Travel's share price peaked by 4.11% to Rs 854 apiece on the NSE, the highest level seen since July 30.
The stock pared some of the gains to trade 2.21% higher at Rs 838.45 apiece at 3:02 p.m., as compared to 0.11% decline in the benchmark Nifty 50.
Shares of Rategain Travel have gained by 23.87% in the past 12 months, and by 16.15% on year to date basis. Total traded volume so far in the day stood at 3.5 times its 30-day average. The relative strength index was at 72.1, which implied the stock is overbought.
All the seven analysts tracking the company have a 'buy' rating on its stock, according to Bloomberg data. The average of 12-month consensus price target implies a potential upside of 12.5%.
