Le Travenues Technology, the parent company of online travel aggregator Ixigo, saw its net profit increase significantly by 128% year-on-year (YoY) to Rs 16.7 crore for the quarter ended March.
The company reported operating revenue of Rs 284 crore for the quarter, up 72% from Rs 165 crore a year ago, on account of growth across all lines of business.
The company’s total expenses rose to Rs 263 crore in the March quarter from Rs 152 crore in the same period last year. A significant amount of the expenditure was attributed to employee benefits and other expenses.
With this, Ixigo’s revenue for 2024-25 increased 39% to Rs 914 crore from Rs 656 crore in the previous fiscal. Its net profit went down 18% to Rs 60 crore from Rs 73 crore.
“In the flights and buses business, we are seeing material acceleration and some gains in market share as well. Buses, in fact, now have the largest share of contribution margin across our lines of business, so we are a much more diversified business in that sense,” said Aloke Bajpai, cofounder and chief executive, during a post-earnings analysts call on Wednesday.
Revenue from train reservations stood at Rs 126 crore, up from Rs 94 crore a year ago. Revenue from airlines and buses stood at Rs 87 crore and Rs 66 crore, respectively.
Founded in 2007 by Bajpai and Rajnish Kumar, Ixigo allows users to book train, flight, and bus tickets while offering various utility tools and services such as train PNR status and confirmation predictions and updates for train seat availability.
It also provides personalised recommendations and automated customer support. According to the company, it has 544 million annual active users with 83 million monthly active users.
According to Bajpai, macro developments also contributed to the company’s growth. “The Mahakumbh Mela in January and February 2025 saw a surge in searches and bookings for us across our three lines of businesses and not just for Prayagraj but also for nearby towns such as Varanasi, Lucknow, Kanpur, Ayodhya,” he said.
Earlier, ET had reported that spiritual and devotional platforms along with travel and hospitality firms saw significant growth during the Mahakumbh festival.
“Our FY25 performance has proved that the market is evolving exactly how we expected it to, with flights and buses becoming our fastest-growing verticals, both in GTV (gross transaction value) terms and revenue terms,” Bajpai added.
Commenting on the recent escalation in India-Pakistan tensions, Bajpai noted that the Pahalgam terror attacks occurred during a period when Jammu and Kashmir was experiencing a 70% YoY surge in bookings on the platform for April.
Ixigo had suspended all bookings—both flights and accommodations—to Turkey, China, and Azerbaijan amid concerns over the perceived diplomatic leanings of Turkey and Azerbaijan towards Pakistan during the conflict.
“We remain dedicated to reviewing this position as the situation evolves. Should geopolitical equations change, we'll reassess the stance and we'll do what is right for the broader travel ecosystem,” he added.
Ixigo was listed on the exchanges on June 18 last year at Rs 138, a premium of 48.5% over its issue price of Rs 93. It closed on Wednesday up 0.24% at Rs 165.90 on the BSE. The results were declared post-market hours.
The company reported operating revenue of Rs 284 crore for the quarter, up 72% from Rs 165 crore a year ago, on account of growth across all lines of business.
The company’s total expenses rose to Rs 263 crore in the March quarter from Rs 152 crore in the same period last year. A significant amount of the expenditure was attributed to employee benefits and other expenses.
With this, Ixigo’s revenue for 2024-25 increased 39% to Rs 914 crore from Rs 656 crore in the previous fiscal. Its net profit went down 18% to Rs 60 crore from Rs 73 crore.
“In the flights and buses business, we are seeing material acceleration and some gains in market share as well. Buses, in fact, now have the largest share of contribution margin across our lines of business, so we are a much more diversified business in that sense,” said Aloke Bajpai, cofounder and chief executive, during a post-earnings analysts call on Wednesday.
Revenue from train reservations stood at Rs 126 crore, up from Rs 94 crore a year ago. Revenue from airlines and buses stood at Rs 87 crore and Rs 66 crore, respectively.
Founded in 2007 by Bajpai and Rajnish Kumar, Ixigo allows users to book train, flight, and bus tickets while offering various utility tools and services such as train PNR status and confirmation predictions and updates for train seat availability.
It also provides personalised recommendations and automated customer support. According to the company, it has 544 million annual active users with 83 million monthly active users.
According to Bajpai, macro developments also contributed to the company’s growth. “The Mahakumbh Mela in January and February 2025 saw a surge in searches and bookings for us across our three lines of businesses and not just for Prayagraj but also for nearby towns such as Varanasi, Lucknow, Kanpur, Ayodhya,” he said.
Earlier, ET had reported that spiritual and devotional platforms along with travel and hospitality firms saw significant growth during the Mahakumbh festival.
“Our FY25 performance has proved that the market is evolving exactly how we expected it to, with flights and buses becoming our fastest-growing verticals, both in GTV (gross transaction value) terms and revenue terms,” Bajpai added.
Commenting on the recent escalation in India-Pakistan tensions, Bajpai noted that the Pahalgam terror attacks occurred during a period when Jammu and Kashmir was experiencing a 70% YoY surge in bookings on the platform for April.
Ixigo had suspended all bookings—both flights and accommodations—to Turkey, China, and Azerbaijan amid concerns over the perceived diplomatic leanings of Turkey and Azerbaijan towards Pakistan during the conflict.
“We remain dedicated to reviewing this position as the situation evolves. Should geopolitical equations change, we'll reassess the stance and we'll do what is right for the broader travel ecosystem,” he added.
Ixigo was listed on the exchanges on June 18 last year at Rs 138, a premium of 48.5% over its issue price of Rs 93. It closed on Wednesday up 0.24% at Rs 165.90 on the BSE. The results were declared post-market hours.
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