Le Travenues Technology Limited, the parent company of the travel and ticketing platform ixigo, has reported a significant financial boost in the first quarter of FY25. Ixigo’s revenue jumps 73% year-on-year (YoY) for the quarter ended June 2024, signaling robust growth across all its business verticals. Alongside this, the company posted a 28.4% increase in net profit, indicating continued profitability and operational efficiency.
The surge in financial performance is attributed to ixigo’s expanding footprint in train, flight, and bus bookings, as well as strategic investments like the one in Zoop, an IRCTC-authorized e-catering startup.
Ixigo’s Revenue Jumps 73% with Strong Performance Across Segments
In Q1 FY25, ixigo’s revenue jumped 73% YoY, reaching ₹314 crore, up from ₹181.87 crore in Q1 FY24. The company’s net profit rose to ₹19.08 crore from ₹14.86 crore during the same period last year, as per the consolidated financial statements.
Segment-wise performance showcased strong traction:
- Flight bookings revenue more than doubled to ₹103.19 crore from ₹41.51 crore.
- Bus bookings revenue increased 29.3% YoY, hitting ₹129.92 crore compared to ₹100.45 crore.
- Train bookings revenue also saw a remarkable rise, growing to ₹76.62 crore from ₹39.63 crore in Q1 FY24.
This reflects ixigo’s strong positioning in Tier 2 and Tier 3 markets and its consistent focus on addressing the travel needs of Bharat.
Aloke Bajpai, Chairman, Managing Director, and Group CFO of Le Travenues, credited this growth to a clear execution strategy:
“The Gross Transaction Value (GTV) CAGR of 83.7% over the last six years, and Adjusted EBITDA CAGR of 84.3% since we turned profitable in FY21, are a reflection of that execution DNA.”
Ixigo’s Strategic Investment in Zoop Supports Growth
Another noteworthy highlight of Q1 FY25 is ixigo’s deepening partnership with Zoop, the IRCTC-authorized e-catering partner. Last year, ixigo acquired a 51% stake in Zoop and has now increased its shareholding by an additional 11% for ₹3.25 crore.
Zoop has demonstrated impressive growth, with revenue rising to ₹10.9 crore in FY25 from ₹4.08 crore in FY23. This strategic move not only strengthens ixigo’s presence in the rail segment but also enhances passenger experience by offering food delivery options on trains — a feature gaining popularity among long-distance travelers.
Rising Costs in Line with Business Expansion
While ixigo’s revenue jumps 73%, the company also witnessed a proportional rise in total expenses, which increased to ₹292.77 crore from ₹168 crore in Q1 FY24. This includes:
- Employee benefit expenses, which rose 37.7% YoY to ₹52.27 crore from ₹37.96 crore.
- Other operating expenses surged 86.2% to ₹236.67 crore from ₹127.11 crore.
Despite the increase in costs, the business has maintained a positive margin and consistent growth trajectory, reflecting effective cost management even amid expansion.
Conclusion
The Q1 FY25 results confirm that ixigo’s revenue jump of 73% is more than a seasonal trend — it’s a reflection of strategic execution, technology-driven solutions, and a deep understanding of India’s growing travel demands. As the company continues to invest in complementary platforms like Zoop and focus on regional and affordable travel segments, its trajectory looks promising for the rest of FY25 and beyond.
