Ixigo, the popular online travel aggregator, recently unveiled its financial results for the third quarter of the fiscal year. The numbers revealed a 41% growth in scale, although profits saw a decline of 49.3% year-on-year during the same period.
In Q3 FY25, Ixigo’s revenue from operations surged by 41.5% to Rs 242 crore, a significant increase from Rs 171 crore in Q3 FY24. The company’s consolidated financial results, sourced from the National Stock Exchange, painted a promising picture of its performance.
A major chunk of Ixigo’s operating revenue, 49.6% to be precise, came from train ticketing services, which saw a jump to Rs 120 crore in Q3 FY25 from Rs 95 crore in the previous year. Flight and bus bookings also contributed significantly, accounting for 28% and 21.4% of the company’s revenue, respectively.
In addition to operating revenue, Ixigo also raked in Rs 5.2 crore through interest and gains from financial assets, bringing its total topline to Rs 247 crore in Q3 FY25. The company’s gross transaction value (GTV) witnessed a 48% year-on-year increase, reaching Rs 4,036 crore during the quarter.
While detailed expense breakdown was not provided in the financial statements, it was noted that employee benefits expenses rose by 17% year-on-year to Rs 41 crore. Overall, the company’s total costs grew by 42.7% to Rs 224 crore in Q3 FY25 compared to Rs 157 crore in the same period last year.
Despite a 49.3% drop in net profits to Rs 15.5 crore in Q3 FY25 from Rs 30.6 crore in Q3 FY24, this decline was primarily attributed to a deferred tax income of Rs 16.7 crore booked in the previous year. On a profit before tax (PBT) basis, Ixigo saw a significant quarter-on-quarter increase of 54% to Rs 21.4 crore in Q3 FY25 from Rs 13.9 crore in Q3 FY24.
At the close of today’s trading session, Ixigo was valued at Rs 127.7 with a total market capitalization of Rs 4,886 crore or $581 million. The company also hit its 54-week low price on that day.
Overall, Ixigo’s financial results for Q3 FY25 showcase a mix of growth and challenges, reflecting the dynamic nature of the online travel industry. It will be interesting to see how the company navigates through the evolving landscape in the coming quarters.
