Le Travenues Technology Ltd, the parent company of online travel aggregator Ixigo, has announced significant growth in its financial performance for the fiscal year 2023-24 (FY24).
The company reported a 30.8% year-on-year increase in revenue from operations, reaching Rs 655.9 crore compared to Rs 501.3 crore in FY23.
Profit after tax (PAT) soared by an impressive 212.3% to Rs 73.1 crore.
In the fourth quarter (Q4) of FY24, revenue from operations rose by 20.4% year-on-year to Rs 164.9 crore.
According to Aloke Bajpai, Group CEO, and Rajnish Kumar, Group Co-CEO, Ixigo attributes its strong performance to its strategy of enhancing customer experience, which has driven a 38% growth in Gross Transaction Value (GTV) and a 30.8% increase in revenue from operations.
The company’s GTV crossed Rs 10,000 crore for FY24, marking a 38% growth year-on-year, with a notable expansion in Flight GTV by 75% for the full year and 63.6% for Q4 FY24.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 23.2% in Q4 FY24 and by 17.8% for FY24, totaling Rs 53.1 crore.
The company stated, “We achieved double-digit adjusted EBITDA margins in Q4 and expanded our market share in flights, buses, and trains despite market capacity constraints.”
Ixigo’s shares closed at Rs 163, up 4.61% following the announcement.
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