Ixigo Q4 Results: Profit Soars To Rs 73 Cr, Revenue Jumps 20.4%

Le Travenues Technology, the parent company of online travel aggregator Ixigo, announced that its profit after tax (PAT) surged by 212.3 per cent to Rs 73.1 crore in FY24. Revenue from operations saw a year-on-year increase of 30.8 per cent, reaching Rs 655.9 crore, up from Rs 501.3 crore in FY23.

For the fourth quarter (Q4) of FY24, revenue from operations rose by 20.4 per cent YoY to Rs 164.9 crore.

Aloke Bajpai, Group CEO, and Rajnish Kumar, Group Co-CEO of Ixigo, attributed the growth to their focus on enhancing customer experience, "Our playbook of building the best customer experience for travellers has helped us continue our robust growth trajectory of 38 per cent growth in our GTV and 30.8 per cent growth in our revenue from operations."

The company reported that the gross transaction value (GTV) surpassed Rs 10,000 crore in FY24, marking a 38 per cent YoY increase for the year and a 34.9 per cent YoY increase for Q4 FY24. This growth was primarily driven by a 75 per cent annual increase in Flight GTV and a 63.6 per cent rise in Q4 compared to the same quarter of the previous year. EBITDA also saw an increase, rising by 23.2 per cent for Q4 FY24 compared to the same period last year and by 17.8 per cent for FY24, totaling Rs 53.1 crore.

Commenting on the results, Aloke Bajpai, Group CEO and Rajnish Kumar, Group Co-CEO, ixigo, stated, “FY24 has been an awesome year for the ixigo group. We have also hit double-digit Adjusted EBITDA margins in Q4 and gained market share in all three key verticals of flights, buses and trains during the year despite limited capacity growth in the overall market during the quarter.”