Travel portal ixigo's revenue jumps 73%, net profit up 28% YoY in Q1
ixigo’s parent Le Travenues posted strong Q1 FY25 growth across flights, buses, and trains, while deepening its investment in train food delivery startup Zoop.
Le Travenues Technology Limited, the parent company of travel and ticketing platform ixigo, reported a 73% year-on-year increase in total revenue from operations for the quarter ended June 2024 (Q1 FY25), reaching Rs 314 crore, up from Rs 181.87 crore in the same period last year.
Net profit attributable to equity holders rose 28.4% to Rs 19.08 crore in Q1 FY25, compared with Rs 14.86 crore in the year-ago quarter, according to the consolidated financial statements filed by ixigo.
"The Gross Transaction Value (GTV) CAGR of 83.7% over the last 6 years, and Adjusted EBITDA CAGR of 84.3% since we turned profitable in FY21, are a reflection of that execution DNA. Over the next few years, I believe that we can continue to grow significantly faster than the market in hotels, buses and flights, and in line with the online market’s growth in trains," Aloke Bajpai, Chairman, Managing Director and Group CFO said in a statement.
"Q1 and Q3 tend to be stronger quarters due to summer vacations and major festivals. Q2 is historically a leaner period, while Q4 sees regional surges, particularly in South India, driven by festivals like Pongal, Ugadi, and regional New Year celebrations. Despite this seasonality, we remain well-positioned to sustain momentum across verticals," he commented.
Total expenses matched the revenue growth, rising to Rs 292.77 crore from Rs 168 crore in Q1 FY24. Employee benefits expense stood at Rs 52.27 crore, up 37.7% from Rs 37.96 crore. Other expenses rose 86.2% to Rs 236.67 crore from Rs 127.11 crore in the same period last year.
Segment-wise, revenue from the flight business more than doubled to Rs 103.19 crore from Rs 41.51 crore in Q1 FY24. Bus segment revenue was Rs 129.92 crore, up 29.3% from Rs 100.45 crore. Revenue from the train segment also nearly doubled to Rs 76.62 crore, compared with Rs 39.63 crore in the same quarter last year.
Zoop’s an IRCTC-authorised e-catering partner, in which Ixigo acquired a 51% stake last year, saw its revenue grow to Rs 10.9 crore in FY25 (from Rs 4.08 crore in FY23). This quarter, ixigo acquired an additional 11% stake in the startup for Rs 3.25 crore.
Edited by Kanishk Singh