Ixigo Faces Quarterly Loss Amid Expanding Travel Sector

Travel technology platform Ixigo reported a consolidated loss of Rs 3.46 crore for the September quarter, contrasting with a net profit of Rs 130.85 crore a year prior. Revenue from operations increased by 37% year-on-year to Rs 282.7 crore, driven by considerable growth in flight and bus revenues.

Ixigo, a leader in travel technology, announced a consolidated loss of Rs 3.46 crore for the September quarter, starkly contrasting with the Rs 130.85 crore net profit reported same quarter last year, according to regulatory filings.

The setback comes alongside an ESOP expense of Rs 26.7 crore recorded during the period. Despite the loss, Ixigo demonstrated strong revenue growth, with operations climbing 37% year-on-year to reach Rs 282.7 crore. Notably, flight and bus revenues saw significant increases of 60% and 64%, respectively.

However, the company's expenses also surged, reaching Rs 290.4 crore, up from Rs 191.47 crore in the same quarter of the previous year. In a joint statement, Group Co-CEO Rajnish Kumar and Group CEO Aloke Bajpai highlighted Ixigo's ability to outperform market growth despite facing capacity challenges, underscoring the platform's commitment to expanding and enhancing AI-driven services.

(With inputs from agencies.)