Ixigo's Robust Q3: AI-Driven Growth and Profitability Surge

Ixigo reported significant Q3 growth with net profit rising by 54.11% to Rs 23.95 crore, driven by higher revenue from its travel services. The platform's performance, particularly in its bus and flight booking sectors, showcased its ability to outpace market growth amid AI transformation.

Ixigo (Le Travenues Technology Limited) announced a 54.11% increase in its consolidated net profit for the December quarter, reaching Rs 23.95 crore. The growth was largely due to higher revenue generated from flight, train, and bus ticketing services.

In comparison, the travel booking platform reported a net profit of Rs 15.54 crore during the corresponding period last year, according to a regulatory filing. Revenue from operations rose to Rs 317.56 crore, compared to Rs 241.76 crore a year earlier, while total expenses increased to Rs 295.85 crore from Rs 223.67 crore.

The gross transaction value (GTV) for ixigo's bus booking segment surged over 36% year-on-year, with the flights vertical also showing a GTV growth of more than 22%, despite industry disruptions in December. Rajnish Kumar and Aloke Bajpai, Group Co-CEO and CEO respectively, emphasized the company's leadership in AI transformation and its focus on long-term growth.

(With inputs from agencies.)