The uptick in the share price came on the back of strong June quarter (Q1FY25) results.
ixigo’s profit after tax (PAT) jumped 78 per cent year-on-year (Y-o-Y) to Rs 14.9 crore in the June quarter of Fy25, from Rs 8.4 crore in the June quarter of FY24.
The online ticket booking company’s revenue from operations, also known as top-line, rose 16 per cent Y-o-Y to Rs 181.9 crore in Q1FY25, from Rs 156.6 crore in Q1FY24.
At the operating level, earnings before interest, tax, depreciation and amortisation (Ebitda) zoomed 62 per cent Y-o-Y to Rs 19.2 crore in Q1 FY25.
Saurabh Devendra Singh, Group CFO, ixigo, said, “Our financial results for Q1FY25 are a testament to our disciplined approach of balancing growth and profitability. We remain committed to growing responsibly and balancing profitability with growth given we will continue investing into initiatives that help us in the long term.”
Furthermore, the company’s adjusted Ebitda (Ebitda plus ESOP expenses less other income) increased to Rs 20.3 crore. for Q1FY25, an increase of 48 per cent from Rs 13.7 crore in Q1FY24.
Its contribution margin (CM) rose 22 per cent annually to Rs 86.8 crore. While CM as a percentage of revenue from operations increased from 45 per cent in Q1FY24 to 48 per cent in Q1FY25.
The company’s gross transaction value (GTV) crossed Rs 2,988 crore in Q1FY25, growing 27 per cent Y-o-Y. Meanwhile, train & flight GTV expanded 28 per cent Y-o-Y and Bus GTV zoomed 16 per cent Y-o-Y in Q1FY25, ixigo said in a statement.
Aloke Bajpai, group CEO & Rajnish Kumar, group co-CEO of ixigo, in a joint statement said, “We are pleased to report continued momentum in our growth in Q1FY25, with an all-time high GTV, revenue from operations, Contribution Margin & Adjusted Ebitda for the quarter. We continue to expand rapidly and improve our market share and at the same time have been able to improve our profitability. We believe the government initiatives on infrastructure, capacity creation and spiritual tourism are set to benefit our sector.”
Founded in 2007 by Aloke Bajpai and Rajnish Kumar, ixigo is a technology firm dedicated to enhancing the travel experience for Indian users.
The company provides a comprehensive suite of travel solutions, including booking and managing trips for trains, flights, buses, and hotels. It uses advanced artificial intelligence to help travellers make informed decisions.
Through its ixigo, ConfirmTkt, and AbhiBus apps, users can book train, flight, and bus tickets, reserve hotels, and arrange cabs, all while benefiting from proprietary algorithms and crowd-sourced data.
With over 48 crore annual active users in Fiscal 2024, ixigo stands out as the leading online travel agency catering to the next billion users in India.
First Published: Aug 02 2024 | 12:35 PM IST
