Business

Ixigo Reports Robust Growth In FY24, PAT Surges 212.3%

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.

Also Read: India Ranked Among Top Three Most Optimistic Nations In Global Survey

Mankrit Kaur

Recent Posts

Delhi’s Air Quality Deteriorates; Several Areas Enter ‘Severe’ Category

Delhi's air quality worsened on Tuesday as the Air Quality Index (AQI) fell into the…

13 mins ago

Joe Biden And Jill Biden Confirm Attendance At Donald Trump’s Inauguration

US President Joe Biden and First Lady Jill Biden will attend inauguration of President-elect Donald…

26 mins ago

Protests Against Vaishno Devi Ropeway Suspended After Talks With Government

Protests against the proposed ropeway project at the Mata Vaishno Devi shrine in Katra, Jammu,…

34 mins ago

IPL 2025 Mega Auction: Historic Deals, Record Signings, And Young Talent Steal The Spotlight

IPL 2025 Mega Auction concluded with historic moments, including Rishabh Pant’s record-breaking ₹27 crore signing…

42 mins ago

Rashmi Shukla Reappointed As Maharashtra DGP After MahaYuti’s Return To Power

Senior IPS officer Rashmi Shukla reappointed as Director General of Police (DGP) for Maharashtra after…

1 hour ago

Delhi Pollution: SC Orders Action On GRAP Violations, Directs Relief For Affected Workers

The SC on Monday instructed CAQM to act against officers and entities failing to enforce…

12 hours ago