ixigo Q1: PAT Jumps 78% YoY To INR 14.85 Cr

SUMMARY

ixigo posted a 78% jump in its profit after tax (PAT) to INR 14.85 Cr in Q1 FY25 from INR 8.36 Cr in the year-ago quarter

Revenue from operations rose 16% to INR 181.87 Cr in Q1 FY25 from INR 156.55 Cr in the corresponding quarter last year

The startup’s EBITDA zoomed 62% YoY to INR 19.2 Cr in Q1 FY25

Online travel aggregator Ixigo posted a 78% jump in its profit after tax (PAT) to INR 14.85 Cr in the June quarter (Q1) of the financial year 2024-25 (FY25) from INR 8.36 Cr in the year-ago quarter.

Revenue from operations rose 16% to INR 181.87 Cr in Q1 FY25 from INR 156.55 Cr in the corresponding quarter last year.

The startup’s EBITDA zoomed 62% year-on-year (YoY) to INR 19.2 Cr in Q1 FY25.

Founded in 2007 by Aloke Bajpai and Rajnish Kumar, ixigo earns revenue from selling various travel services like flights, trains, bus tickets, hotel bookings, and holiday packages.

Commenting on Q1 earnings, cofounders Bajpai and Kumar said, “We are pleased to report continued momentum in our growth in Q1 FY25, with an all-time high GTV (gross transaction value), revenue from operations, contribution margin and 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.”

The startup’s gross transaction value surged 26.6% to INR 2,988.1 Cr in the reported quarter from INR 2,359.1 Cr in Q1 FY24.

ixigo’s train ticketing segment continued to be the biggest revenue generator, contributing INR 100.4 Cr to its top line in Q1 FY25. This was an increase of 13.3% from INR 88.64 Cr in the year-ago quarter.

ixigo’s revenue from the flight ticketing segment jumped 37.7% to INR 41.53 Cr during the quarter under review from INR 30.14 Cr in Q1 FY24.

Further, the startup’s bus ticketing revenue climbed to INR 39.6 Cr in the reported quarter from INR 35.9 Cr in Q1 FY24.

ixigo said its monthly active users grew to 79.74 Mn in Q1 FY25 from 76.83 Mn in the year-ago quarter.

Where Did ixigo Spend In Q1?

ixigo’s total expenses rose 12% to INR 168 Cr during the quarter under review from INR 150 Cr in Q1 FY24, with employee costs accounting for almost one-fourth of the overall expenses.

Employee Costs: ixigo spent INR 37.96 Cr towards employee benefit expenses in the reported quarter compared to INR 35.32 Cr in Q1 FY24.

Other expenses: This number rose to 127.1 Cr in the reported quarter from INR 111.2 Cr in Q1 FY24.

Ahead of the earnings announcement, shares of ixigo closed 2.2% lower at INR 169.75 apiece on the BSE. The startup released its Q1 numbers after market hours.