Travel booking platform ixigo (Le Travenues Technology Limited) reported a 54.11 percent increase in consolidated net profit for the December quarter, reaching ₹23.95 crore. This growth is attributed to increased revenue from flight, train, and bus ticketing services.
Profit and Revenue Growth
The company’s net profit represents a significant rise compared to the ₹15.54 crore reported during the same period last year, according to a regulatory filing. ixigo’s revenue from operations also increased, rising to ₹317.56 crore from ₹241.76 crore a year prior. Alongside revenue gains, total expenses also saw an increase, climbing to ₹295.85 crore from ₹223.67 crore.
The company highlighted strong performance in specific sectors. The gross transaction value for bus bookings grew by more than 36 percent year-on-year. Despite industry-wide disruptions in December, the flights vertical still recorded a GTV growth exceeding 22 percent.
Looking Ahead
ixigo’s leadership anticipates continued growth and a focus on innovation. Rajnish Kumar, Group Co-CEO, and Aloke Bajpai, Group CEO, stated the company’s performance demonstrates an ability to outperform the market. They indicated a future focus on leading the industry’s “AI transformation” and achieving long-term profitability.
It is possible that ixigo will continue to invest in technology to maintain its growth trajectory. Further gains in GTV for both bus and flight bookings could be expected, though future performance may be influenced by broader economic conditions and industry trends. The company’s ability to manage expenses while increasing revenue will likely be a critical factor in sustaining profitability.
Frequently Asked Questions
What was ixigo’s net profit for the December quarter?
ixigo reported a consolidated net profit of ₹23.95 crore for the December quarter.
How did ixigo’s revenue from operations change compared to last year?
ixigo’s revenue from operations increased to ₹317.56 crore, up from ₹241.76 crore a year ago.
What did ixigo’s leadership say about the company’s performance?
Rajnish Kumar and Aloke Bajpai stated that the company’s Q3 performance demonstrates its ability to outpace market growth and improve profitability, with a focus on AI transformation.
How might advancements in artificial intelligence reshape the future of travel booking platforms?
