homeearnings NewsRategain Travel sets sights on 30% organic growth in second half amid global expansion efforts
Rategain Travel sets sights on 30% organic growth in second half amid global expansion efforts
In an exclusive conversation with CNBC-TV18, Bhanu Chopra, the Chairman and Managing Director (CMD) of Rategain Travel Technologies, shared insights into the company's expansion plans and its strategic vision for the future.
Rategain Travel Technologies, a key SaaS (software as a service) provider to the hospitality and travel sectors, is on a mission to scale up to a billion-dollar revenue entity. With a current valuation of $125 million and a market cap of ₹7162.89 crore, the company is on a transformative growth path.
Bhanu Chopra, the CMD of Rategain Travel Technologies, in an interview with CNBC-TV18, shed light on the company's ambitious expansion and future strategies. Rategain Travel, with a robust margin exceeding 30%, is a testament to its solid base. The company is focused on reinvesting to enhance capabilities and expand its sales and marketing reach to boost growth.
Chopra is optimistic about the second half of the financial year, expecting a 30% growth in organic business. He also has a positive outlook on the company's margins, aiming for a 19% margin in FY 2024.
The company's growth strategy includes international expansion. "We were building out in the Middle East, and we are expanding our presence in Latin America as well," stated Bhanu Chopra, underscoring the company's global ambitions.
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Earlier this week, the firm reported a substantial increase of 131.5% year-on-year in its post-tax profit (PAT) to ₹30 crore for the quarter ending on September 30, 2023. This surge was primarily fueled by robust travel demand, contrasting sharply with the PAT of ₹13 crore recorded during the same period in the preceding year. The company's revenue grew 88.4% to ₹234.72 crore from ₹124.6 crore.
Amidst this resurgence in travel demand, the industry is now actively investing in the adoption of innovative technologies, such as artificial intelligence (AI), to enhance the customer experience, optimise cost-efficiency, and maximize revenue, according to a company statement shared with exchanges.
The stock ended nearly 6% higher today at close to ₹700 on the National Stock Exchange. The company's market capitalisation is around ₹7,588 crore.
For more details, watch the accompanying video
(Edited by : Shweta Mungre)
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