Ixigo Q4 Results: Net profit rose 55% YoY; stock surge 4%

The company’s earnings before interest, tax, depreciation, and amortisation (EBITDA) for the quarter were up 23.2% YoY to ₹18.74 crore while the EBITDA margin expanded to 11.37% from 11.11% in the corresponding period last year.

For the financial year ended March 31, 2024, the company’s net profit surged 212% YoY to ₹73 crore. During the year, the company saw the total consolidated income rise by 28.50% YoY to ₹665 crore. In FY24, Ixigo’s EBITDA was higher by 17.79% YoY to ₹53 crore. The EBITDA margin in FY24 contracted to 8.09% compared to last year’s 8.99%.

The company’s gross transaction value (GTV) grew by 38% YoY to ₹10,282.54 crore during the year. The growth was mainly led by expansion in the Flight GTV as it saw an uptick of 75% during the year.

Aloke Bajpai, the group chief executive officer, and Rajnish Kumar, the group co-chief executive officer, of Ixigo stated that the company has seen growth in all three verticals during the year and in GTV and operating revenue.

“We have also hit double-digit Adjusted EBITDA margins in Q4 and gained market share in all three key verticals of flights, buses, and trains during the year despite limited capacity growth in the overall market during the quarter,” the management said.

Shares of Le Travenues Technology listed on the bourses on June 18, 2024, with a premium of over 48% at ₹138.10 per share. Upon listing, Ixigo shares hit a 52-week high of ₹197.5 apiece. The shares are currently trading 84% higher compared to the IPO issue price.