Ixigo reports 13% revenue growth in Q2; posts Rs 63 crore in net profit

Online travel ticketing platform Ixigo on Saturday reported a 13% year-on-year increase in revenue to Rs 321 crore for the July-September quarter, typically a seasonally weak period for travel. The company, however, swung to a net profit of Rs 63 crore from a loss of Rs 3.5 crore in the year-ago quarter.

While better operating efficiency helped Ixigo improve its profitability, its bottomline was also boosted by a one-time gain of Rs 41 crore from the partial sale of its stake in intercity bus operator FreshBus in August.

On an operating basis, Ixigo reported earnings before interest, tax, depreciation and amortisation (Ebitda) of Rs 18.1 crore, compared with an Ebitda loss of Rs 3.7 crore a year earlier.


Train bookings, Ixigo's largest business by revenue, grew 16% year-on-year to Rs 149 crore in the September quarter, according to the segment-wise revenue breakup in its financial statements. Bus ticketing, its second-largest segment, reported a 25% increase in revenue to Rs 81 crore.

Flight ticketing revenue, however, fell to Rs 83 crore from Rs 89 crore in the corresponding quarter last year. The decline came despite an increase in gross transaction value (GTV), as the segment's take rate, or the share of transaction value retained as revenue, fell to 7% from 9.38%.

Ixigo's flight business recorded a GTV of Rs 2,184 crore in the quarter, up 37% year-on-year.

In a joint statement, group CEO Aloke Bajpai, group co-CEO Rajnish Kumar and group CFO Saurabh Devendra Singh said the company recorded its highest-ever profit after tax (PAT), aided by the partial sale of its FreshBus stake. They added that flights and buses led growth during the quarter, with GTV rising 37% and 32% year-on-year, respectively.

The company also began disclosing hotels as a separate line of business from the September quarter. The segment's GTV grew 2.6 times year-on-year to Rs 111 crore, with a gross take rate of more than 12%.

“We continue to invest in hotels and AI as key drivers of our long-term growth,” the executives said.