Online travel company Ixigo, parent company of Le Travenues Technology Ltd, reported extremely healthy financials for FY24 with high growth across all levers. Meanwhile, revenue from operations increased 30.8% YoY to ₹655.9 crore against ₹501.3 crore over the same period. Meanwhile, profit after tax has shown an impressive increase of 212.3% to ₹73.1 crore.
Total revenues from operations grew by 20.4% y-o-y in Q4 FY24 to Rs. 164.9 Crore, showing sustained growth momentum across the year.
Here, on their part, Aloke Bajpai, CEO of Ixigo and Rajnish Kumar, Co-CEO of Ixigo due to their strategy that majorly involved being customer centric, respectively, attributed this success. They commented, "Our commitment towards delivering superior travel experiences has driven a 38% growth in Gross Transaction Value (GTV) and a 30.8% increase in revenue from operations.".
It reported a GTV in excess of Rs 10,000 crore for FY24 — an expansion of 38% YoY on a full-year basis and 34.9% in Q4 FY24. The importance of the scaling-up is attributed to an increase in flight GTV to 75% for the whole year and to Q4 to 63.6% over last year.
Further rounding off the financials, Ixigo added that in Q4 FY24, EBITDA grew 23.2% compared to Q4 FY23 and 17.8% against FY23 to finally settle at Rs 53.1 crore.
"In Q4, we delivered double-digit adjusted EBITDA margins and grew our market share in flights, buses and trains despite continued challenges within market capacity growth," it added.
Strong financial performance in the market rewarded the company with gains of 4.61% and a closing share price of Rs 163 against the major marker, which was again a strong vote of investors' confidence in its growth and operational efficiency.
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