Traveltech firm ixigo's profit increases by 78% to Rs 14.9 crore in Q1FY25

Traveltech firm Ixigo, operated by Le Travenues Technology Limited, has reported remarkable financial results for Q1FY25. 

The company achieved significant growth across key performance metrics, marking a successful start to the financial year.

Ixigo's Gross Transaction Value (GTV) increased to over Rs 2,988 crore, representing a 27% year-over-year growth. This growth was driven by strong performance in the train, flight, and bus sectors, as well as a notable rise in revenue from operations.

Sectoral performance and revenue growth

The train and flight sectors witnessed a robust 28% growth, while the bus sector saw a 16% increase compared to the same quarter in the previous year.

Overall, Ixigo's revenue from operations climbed by 16% year-over-year, reaching Rs 181.88 crore, up from Rs 156.55 crore in Q1 FY24.

The company generated the majority of its operating revenue from train ticketing, which contributed 55.23%, amounting to Rs 100.46 crore. Flight and bus booking services contributed 22.82% and 21.79%, respectively.

Financial health and profitability

Ixigo's contribution margin (CM) increased by 22% to Rs 86.8 crore, improving its ratio to 48% of the revenue from 45% the previous year.

Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) surged by 62%, reaching Rs 19.2 crore.

Adjusted EBITDA, which includes ESOP expenses but excludes other income, rose by 48% to Rs 20.3 crore.

The company’s profit after tax (PAT) increased by 78% to Rs 14.85 crore, up from Rs 8.36 crore in Q1 FY24.

Leadership comments

"We are pleased to report continued momentum in our growth in Q1 FY25, with an all-time high GTV, Revenue from Operations, Contribution Margin, and Adjusted EBITDA for the quarter. We continue to expand rapidly and improve our market share while enhancing profitability. Government initiatives on infrastructure, capacity creation, and spiritual tourism are poised to benefit our sector," said Aloke Bajpai, Group CEO, and Rajnish Kumar, Group Co-CEO of Ixigo.

Saurabh Devendra Singh, Group CFO, added, "Our financial results for Q1 FY25 reflect our disciplined approach of balancing growth and profitability. We remain committed to growing responsibly and balancing profitability with growth, investing in long-term initiatives."