“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,” a joint statement by ixigo management mentions.
Le Travenues Technology Limited (referred to as the “Company”; NSE: IXIGO, BSE: 544192), India’s leading OTA for the Next Billion Users, has announced its financial results (standalone and consolidated) for its fiscal fourth quarter and full fiscal year ended March 31, 2024.
Revenue from Operations grew by 30.8% YoY in FY24 to INR 655.9 Cr from INR 501.3 Cr in FY23. For Q4 FY24, Revenue from Operations grew by 20.4% YoY to INR 164.9 Cr. Gross Transaction Value (GTV) crossed INR 10,000 Cr in FY24, growing by 38% YoY for the full year and by 34.9% YoY for Q4 FY24. This was led by Flight GTV expansion of 75% for the full year and 63.6% for Q4 versus the same quarter in the previous year.
Contribution Margin (CM) increased by 34.7% for the full year, reaching INR 293.8 Cr for FY24, led by Bus Contribution Margin YoY increase of 40.9% and Train Contribution Margin YoY increase of 34.6%.
EBITDA increased by 23.2% for Q4 FY24 as compared to the same period in the previous year and by 17.8% for FY24, amounting to INR 53.1 Cr in FY24. Adjusted EBITDA (EBITDA plus ESOP Expenses less Other Income) increased by 0.7% for Q4 FY24 vs Q4 FY23 and by 24.7% for the full year, amounting to INR 55.3 Cr in FY24. Also, the Profit After Tax grew by 212.3% YoY in FY24 and 55.2% YoY in Q4 FY24. FY24 PAT of INR 73.1 Cr includes INR 29.7 Cr of Exceptional Item Income due to accounting for loss of control of an Associate, and both FY23 and FY24 have certain deferred tax benefits.
The Ancillary Value-Added Services Attachment Rate, as a percentage of total bookings sold, increased from 28.9% to 31.3% for FY24.
Commenting on the results, Aloke Bajpai, Group CEO & Rajnish Kumar, Group Co-CEO, ixigo, stated, “FY24 has been an awesome year for the ixigo group. Our playbook of building the best customer experience for travelers has helped us continue our robust growth trajectory of 38% growth in our GTV and 30.8% growth in our Revenue from Operations. 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.”
