July 24, 2024

Travel & Tourism

Ixigo's profit more than doubled at Rs 73 crore in FY24

Kaumimarg Bureau / IANS | July 04, 2024 07:03 PM

 Le Travenues Technology Ltd, which owns online travel aggregator Ixigo, on Thursday said revenue from operations grew by 30.8 per cent (year-on-year) in FY24 to Rs 655.9 crore from Rs 501.3 crore in FY23, as profit after tax (PAT) grew by 212.3 per cent to Rs 73.1 crore.

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

"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, " said Aloke Bajpai, Group CEO and Rajnish Kumar, Group Co-CEO, Ixigo.

According to the company, the gross transaction value (GTV) crossed Rs 10, 000 crore in FY24, growing by 38 per cent (YoY) for the full year and by 34.9 per cent (YoY) for Q4 FY24.

This was led by Flight GTV expansion of 75 per cent for the full year and 63.6 per cent for Q4 versus the same quarter in the previous year. EBITDA increased by 23.2 per cent for Q4 FY24 as compared to the same period in the previous year and by 17.8 per cent for FY24, amounting to Rs 53.1 crore in FY24.

"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, " said the company.

The shares of the company closed at Rs 163, up 4.61 per cent.

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