ixigo Shares Jump Almost 5% Intraday On Strong Q1 Performance

Shares of ixigo jumped almost 5% to INR 178.2 apiece during the intraday session on the BSE today (August 2) after the online travel aggregator posted a 78% jump in its profit after tax (PAT) to INR 14.85 Cr for the quarter ended June 2024.

However, the stock shed some of the gains and was trading at INR 176.6 apiece at 11:22 AM.

The stock’s price surged after ixigo reported improved top line and bottom line in Q1 FY25, with its revenue from operations 16% to INR 181.87 Cr in the reported quarter from INR 156.55 Cr in Q1 FY24. 

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

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.

Founded in 2017 Aloke Bajpai and Rajnish Kumar, ixigo started in 2007 as a travel search website to help users compare flight deals. In FY20, it transformed into an OTA and began generating revenue from a wide range of services such as flights, trains, bus tickets, hotel bookings and holiday packages.

ixigo made a strong market debut on June 18, with its shares listing at a premium of more than 45% on the BSE. The stock debuted at INR 135 apiece as against an issue price of INR 93.

At INR 172.8, the stock’s last opening price was 28% above the listing price and 85.8% higher than the issue price.

As of August 2, 2:23 PM, ixigo was valued at INR 6,839.96 Cr.

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