ixigo Shares Rally 9% On Upbeat Q3 Performance

SUMMARY

Shares of ixigo rallied over 9% in early trade to INR 137.40 apiece on the BSE after a strong Q3 show

The online travel aggregator posted a net profit of INR 15.54 Cr in Q3 FY25 on an operating revenue of INR 241.76 Cr

EBITDA rose 36% YoY to INR 26.6 Cr during the December quarter

Shares of Ixigo


Sector
Travel Tech
Stage
Debt Financing
Total Funding
$96.50 Mn+
rallied over 9% in early trade to INR 137.40 apiece on the BSE today (January 29) after the online travel aggregator reported strong business growth in the third quarter of the fiscal year 2024-25 (Q3 FY25).

The travel tech company’s operating revenue jumped 42% to INR 241.76 Cr during the quarter under review from INR 170.55 Cr in Q3 FY24. Sequentially, it rose 17% from INR 206.47 Cr. 

It posted a consolidated net profit of INR 15.54 Cr in Q3 FY25, which was down 49% from INR 30.65 Cr a year ago, because of the difference in deferred tax charges. The company had a deferred tax expense of INR 5.90 Cr during the quarter under review against a deferred tax credit of INR 16.80 Cr in the year-ago quarter. 

ixigo’s adjusted EBITDA grew 25% year-on-year to INR 24.3 Cr in the quarter ended December 31, 2024, while EBITDA grew 36% YoY to INR 26.6 Cr in Q3 FY25. 

Total expenses grew 43% to INR 223.68 Cr during the quarter from INR 191.47 Cr in Q3 FY24.

ixigo’s gross transaction volume (GTV) rose 48% to INR 4,036.3 Cr during the quarter from INR 2,718.3 Cr in Q3 FY24.

The company witnessed healthy growth across all ticketing businesses. Revenue from the train segment rose 24% YoY to INR 119.67 Cr, while the air ticketing business contributed INR 68.52 Cr to ixigo’s top line in Q3 FY25, up 44% YoY.  Meanwhile, revenue from the bus segment climbed 35% YoY to INR 51.54 Cr.

ixigo founders Aloke Bajpai and Rajnish Kumar said that Q3 FY25 was the best quarter for the company in terms of monthly active user base (MAU), GTV, operating revenue, and EBITDA. They remain optimistic about the firm’s ability to grow faster than the overall OTA market in the mid-term.

Meanwhile, in the December quarter, the company also signed a share purchase agreement with Zoop Web Services to acquire a 51% stake in the latter for INR 125.40 Cr. The acquisition helped it offer food-on-trains service.

Earlier this month, brokerage JM Financial initiated coverage on ixigo with a ‘buy’ rating and a target price of INR 180. This implies an upside potential of over 43% from the stock’s previous close.

At 11:31 AM, the stock was trading at 10.54% higher at INR 139 on the BSE.