Ixigo's Q1 FY25 Profit After Tax Surges 78%

Online travel aggregator ixigo reported a 78% increase in profit after tax (PAT) for the June 2024 quarter, reaching Rs 14.9 crore. Revenue grew 16% year-on-year to Rs 181.9 crore. EBITDA jumped 62%, while adjusted EBITDA increased 48%. The company plans to balance profitability with growth through long-term investments.

Online travel aggregator ixigo reported a remarkable 78% increase in profit after tax (PAT) for the June 2024 quarter, reaching Rs 14.9 crore, as compared to Rs 8.4 crore in the same period of the previous fiscal year.

Revenue from operations saw a 16% year-on-year rise, reaching Rs 181.9 crore in the latest April-June quarter, up from Rs 156.6 crore in the first quarter of FY24.

EBITDA (earnings before interest, taxes, depreciation, and amortization) surged 62% year-on-year to Rs 19.2 crore during the reporting period. Additionally, the adjusted EBITDA rose to Rs 20.3 crore, marking a 48% increase from the Rs 13.7 crore recorded in the year-ago quarter.

"We remain committed to growing responsibly and balancing profitability with growth, given that we will continue investing in initiatives that help us in the long term," stated Saurabh Devendra Singh, Group CFO of ixigo.

According to ixigo, Q1 FY25 saw momentum across multiple metrics including an all-time high GTV, revenue from operations, contribution margin, and adjusted EBITDA. The company is rapidly expanding and improving its market share while also enhancing profitability.

Ixigo also noted that government initiatives on infrastructure, capacity creation, and spiritual tourism are expected to benefit the sector.