Travel platform ixigo's Q1 FY25 profit surges 78.3% to Rs 14.8 Cr

Le Travenues Technology Limited, the parent company of travel website Ixigo, has posted a 78.3% jump in profit to Rs 14.8 crore for Q1 FY25.

The booking company posted an operating revenue of Rs 181.8 crore, a 16.1% year-on-year improvement from Rs 156.5 crore earned from operations in the first quarter of FY24.

Most of ixigo's Q1 FY25 revenues came from train bookings, which stood at Rs 100 crore and grew by 13.3% from Rs 88.6 crore earned in the year-ago period. Notably, the air ticketing segment grew 37.8% YoY to Rs 41.5 crore.

ixigo achieved a gross transaction value (GTV) of over Rs 2,988 crore in the first quarter of FY25, marking a 27% increase compared with the same period last year. GTV refers to the total amount paid (including taxes, fees and service charges, gross of all discounts) by users for the online travel agency services and products booked in the relevant period/year.

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Closely tracking revenues, expenses also grew by 12% YoY to Rs 168 crore in the latest quarter from Rs 150 crore in Q1 FY24. Other expenses, which contributed the majority of expenses incurred by ixigo, stood at Rs 127 crore.

Its profit for the period stood at Rs 14.8 crore, a 78.3% jump from Rs 8.3 crore earned last year. The National Stock Exchange-listed startup’s EBITDA also grew by 62% YoY to Rs 19.2 crore in Q1 FY25.

“We are pleased to report continued momentum in our growth in Q1 FY25, 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," ixigo Group CEO Aloke Bajpai and Group Co-CEO Rajnish Kumar said in a joint statement.

ixigo had a stellar debut on the stock exchanges last month. The share price opened 49% higher than its listing price of Rs 93 and hit the upper 20% circuit by 2 pm, trading at Rs 165.72, a 78% gain from the issue price.

However, since it got listed on the NSE, the company's share price has only appreciated by Rs 1 per share. The stock was trading at Rs 170 a piece at market close on Thursday, down 2.11%.