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Online travel aggregator (OTA) Ixigo released its financial results for the third quarter of the ongoing fiscal year (Q3 FY25) on Tuesday. The company reported a 41% growth in scale, while its year-on-year (YoY) profits declined by 49.3% during the same period.
Ixigo’s revenue from operations surged 41.5% to Rs 242 crore in Q3 FY25 in contrast to Rs 171 crore in Q3 FY24, as per the firm’s consolidated financial results sourced from the National Stock Exchange.
The Gurugram-based company generated the majority (49.6%) of its operating revenue from train ticketing which increased to Rs 120 crore in Q3 FY25 from Rs 95 crore in Q3 FY24. Flight and bus booking services contributed 28% and 21.4% to the company’s coffers, respectively.
Besides operating revenue, the firm also earned Rs 5.2 crore via interest and gains from financial assets during the quarter which took its total topline to Rs 247 crore in Q3 FY25.
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Ixigo’s gross transaction value (GTV) increased 48% year-on-year to Rs 4,036 crore during the third quarter of the ongoing fiscal year.
Ixigo has not provided a detailed breakdown of expenses in its quarterly financial statements. However, employee benefits expenses rose by 17% YoY to Rs 41 crore. Overall, the company's total costs grew 42.7% to Rs 224 crore in Q3 FY25 compared to Rs 157 crore in Q3 FY24.
Ixigo's net profits dropped by 49.3% to Rs 15.5 crore in Q3 FY25 from Rs 30.6 crore in Q3 FY24. However, this decline is attributed to a deferred tax income of Rs 16.7 crore booked in Q3 FY24. On a PBT basis, profits showed a significant QoQ increase of 54% to Rs 21.4 crore in Q3 FY25 from Rs 13.9 crore in Q3 FY24.
Ixigo is currently trading at Rs 127.7 at the end of today’s session with a total market capitalization of Rs 4,886 crore or $581 million. The company also registered its 54-week low price today.