Results for the quarter and year ended March 31, 2026
RATEGAIN · price
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RateGain reported consolidated revenue of ₹18,235.54 million for FY26, up 69.4% from ₹10,766.70 million in FY25, driven primarily by the acquisition of Sojern Inc. (completed November 2025 for ~$251 million). However, profit after tax declined approximately 30% to around ₹1,044 million due to higher employee costs, increased depreciation (from ₹349 million to ₹807 million) and finance costs post-acquisition. Q4 standalone revenue was ₹637.81 million. The company recorded exceptional items of ₹346.18 million during the year, comprising transaction costs for the Sojern acquisition (₹25.92 million) and a ₹22.02 million charge due to new Indian Labour Codes. The auditors (Deloitte Haskins & Sells LLP) issued an unmodified opinion, and no going concern or qualification issues were raised.
Strong top-line growth of ~69% driven by the Sojern acquisition masks a ~30% decline in profitability as integration costs and higher finance charges weigh on earnings. Shareholders should monitor post-acquisition integration and margin recovery.