Ixigo Shares Slump 9% During Morning Trade

SUMMARY

The stock’s intraday low was only 1% up from its 52-week low of INR 118.75

With a drop in its share price, its market capitalisation dropped to INR 4,958 Cr with around 9.6 Lakh shares exchanged hands by 11:25 AM

While the stock lost over 23% in the past one year, it has given a negative return of almost 9% in the last five days at the current market price

Shares of online travel aggregator ixigo nosedived over 9% to INR 119.95 during the intraday trading session on the BSE today (March 4).

The stock’s intraday low was only 1% up from its 52-week low of INR 118.75.

With a drop in its share price, its market capitalisation dropped to INR 4,958 Cr with around 9.6 Lakh shares exchanged hands by 11:25 AM.

At that time, the stock however recouped some of its losses and was trading 3.86% from its previous close (Monday) of INR 132.20 on the BSE.

While the stock lost over 23% in the past one year, it has given a negative return of almost 9% in the last five days at the current market price. On a year-to-date (YTD) basis, it has plunged over 29.13%.

Further, in four out of the last seven sessions, the stock has ended in Red on the BSE.

ixigo’s consolidated net profit slumped 49% to INR 15.54 Cr in Q3 FY25 from INR 30.65 Cr in the year-ago quarter, largely due to tax expenses.

However, on a sequential basis, net profit jumped 19% from INR 13.09 Cr. The decline in its profit on a year-on-year (YoY) basis came as a result of difference in deferred tax charges.

Last month, the company received a GST demand order of INR 89.8 Lakh from the Haryana GST authorities. The order pertains to the historical business of the company involving the “export of services alleged as intermediary services”.

The company got listed on June 18, 2024, where it opened at INR 135 apiece, up 45.16% from the issue price of INR 93, on the BSE. Also, shares opened at INR 138.10 per share, a 48.5% increase from the issue price, on the NSE.

Founded by Aloke Bajpai and Rajnish Kumar, ixigo started in 2007 as a travel search website to help users compare flight deals. In FY20, it became an OTA and started selling various travel services like flights, trains, bus tickets, hotel bookings and holiday packages.

ixigo closed the trading session on Tuesday -1.44% lower at INR 130.30 on the BSE.