RateGain reports 47% profit growth in Q2 following Sojern integration
Travel-focused SaaS provider RateGain posted a 47% year-on-year profit increase for the second quarter, buoyed by the acquisition of marketing platform Sojern.
RateGain reported a consolidated net profit of ₹74.7 crore for the September quarter, marking a 46.5% increase compared to the previous year. Operating revenue rose by 152.6% to ₹745.4 crore, a performance largely attributed to the integration of travel marketing platform Sojern, which was acquired for $250 million in late 2023.
Despite strong year-on-year figures, the company saw a 21.3% sequential decline in net profit compared to the previous quarter. The company continues to deleverage, having repaid 75% of the $125 million debt facility secured for the Sojern acquisition. Outstanding debt is now down to $31.3 million.
RateGain’s business model now leans heavily on marketing technology, which accounts for 80.2% of its revenue. Through its expanded portfolio, the company serves a client base that has grown to over 14,500, including significant players in the global hospitality and aviation sectors. Chairman Bhanu Chopra stated that the company plans to focus on scaling AI-driven operational tools across its expanded customer base throughout the remainder of the fiscal year.