RateGain Shares Drop 10% After FY25 Guidance Cut

RateGain also reduced its FY25 revenue growth outlook to 15% year-on-year (YoY), a decrease from 20% growth in the same period a year earlier

Besides, Kotak Institutional Equities downgraded its rating on the stock to a ‘reduce’ from the previous ‘add’ call, citing lofty valuations

At 12:10 PM, the stock was trading 10.1% lower at INR 748.3 on the BSE. Its market capitalisation stood at INR 8,825.12 at the time

Traveltech SaaS company RateGain’s shares slumped as much as 10.4% to INR 747.55 apiece during the intraday trading session on the BSE today (November 12) after the company lowered its FY25 guidance.

Rategain also reduced its FY25 revenue growth outlook to 15% year-on-year (YoY), a decrease from 20% growth in the same period a year earlier. 

Besides, Kotak Institutional Equities downgraded its rating on the stock to a ‘reduce’ from the previous ‘add’ call, citing lofty valuations.

RateGain’s consolidated profit after tax (PAT) zoomed 74% to INR 52.2 Cr in the quarter ended September 2024 (Q2 FY25) from INR 30 Cr in the year-ago period. 

Meanwhile, operating revenue rose 18% to INR 277.2 Cr during the quarter under review from INR 234.7 Cr in Q2 FY24. On a quarter-on-quarter (QoQ) basis, it rose 6.6% from INR 260 Cr.

At 12:10 PM, the stock was trading 10.1% lower at INR 748.3 on the BSE. Its market capitalisation stood at INR 8,825.12 at the time.

(The story will be updated soon.)