On a quarter on quarter basis, ixigo’s net profit jumped 19% from INR 13.09 Cr
ixigo's revenue from operations zoomed 42% to INR 241.76 Cr during the quarter under review from INR 170.55 Cr in Q3 FY24
Including an other income of INR 5.23 Cr, total revenue for the quarter went up 41% YoY to INR 246.99 Cr
Online travel aggregator (OTA) company ixigo’s consolidated net profit slumped 49% to INR 15.54 Cr in the third quarter of the financial year 2024-25 (Q3 FY25) from INR 30.65 Cr in the year-ago quarter, largely due to tax expenses.
However, on a quarter-on-quarter basis, net profit jumped 19% from INR 13.09 Cr.
The substantial dip in the profit on a year-on-year (YoY) basis came as a result of difference in deferred tax charges. The company had a deferred tax expense of INR 5.90 Cr during the quarter under review as against a deferred tax credit of INR 16.80 Cr in the year-ago quarter.
Meanwhile, ixigo’s adjusted EBITDA for the quarter grew 25% YoY to INR 24.3 Cr in the quarter ended December 31, 2024. Besides, EBITDA grew 36% YoY to INR 26.6 Cr in Q3 FY25.
The company also witnessed a significant uptick in its top line. ixigo’s revenue from operations zoomed 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.
The OTA’s total expenses grew 43% to INR 223.68 Cr during the quarter from the INR 191.47 Cr in Q3 FY24. While employee expenses went up 15% YoY to INR 40.60 Cr, other expenses surged 52% YoY to INR 179.83 Cr.
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.
Including other income of INR 5.23 Cr, ixigo’s total revenue for the quarter rose 41% YoY to INR 246.99 Cr.
The train segment contributed the most to its revenue pie, growing 24% YoY to rake in INR 119.67 Cr. The biggest jump of 44% YoY came in its flight revenue, which soared to INR 68.52 Cr. Meanwhile, revenue from the bus segment climbed 35% YoY to INR 51.54 Cr.
At the end of the quarter, Ixigo
“Q3 FY25 has been our best quarter ever! We hit new all-time high records for MAU (monthly active userbase), GTV, revenue from operations as well as EBITDA this quarter. For 9M FY25 vs 9M FY24 we have doubled our EBITDA from INR 34 Cr to INR 68 Cr while gaining market share in all our lines of business. With continued investments in new areas including hotels and AI-based agentic tools, we remain optimistic about our ability to grow faster than the overall OTA market in the mid-term,” ixigo founders Aloke Bajpai and Rajnish Kumar said in a joint sentiment.
During the quarter, the company entered into a share purchase agreement with Zoop Web Services to acquire 51% stake in the latter for INR 125.40 Cr. The acquisition helped it offer food-on-trains service.
“We have integrated Zoop across ixigo and ConfirmTkt apps, and continue to see decent month-on-month growth of food orders. We are expanding the number of stations with our own delivery staff, as well as signing up restaurants and chains at more stations,” Kumar said.
Meanwhile, ixigo’s stake in its associate, Fresh Bus decreased from 41.4% to 25.66% post the latter’s capital raise in June 2024.
Shares of ixigo ended today’s trading session 5.84% lower at INR 125.75 on the BSE.