Le Travenues Technology, the parent company of ixigo, has witnessed a remarkable surge in profits, logging INR 65.7 Cr within the first nine months of FY24, nearly tripling its FY23 profits of INR 23.3 Cr. This financial success positions ixigo favorably as it prepares for its upcoming IPO.
Financial Performance:
In the initial nine months of FY24, ixigo reported an operating revenue of INR 491 Cr, showcasing robust growth. This marks a significant increase from FY23, where ixigo’s sales reached INR 501.2 Cr, reflecting a 32% rise from the previous fiscal year’s revenue.
Revenue Streams:
As a leading travel aggregator, ixigo generates revenue through various streams, including convenience fees from ticket reservations for rail, air, and bus travel, as well as income from advertising services. These diversified revenue sources contribute to ixigo’s financial stability and growth trajectory.
Expenditure Analysis:
Ixigo’s expenditure in the first nine months of FY24 totaled INR 475.4 Cr, demonstrating prudent financial management. Key areas of expenditure include employee benefits and advertising expenses, reflecting investments in talent acquisition and marketing initiatives to drive customer acquisition and brand visibility.
IPO Plans and Refiling:
Ixigo recently refiled its draft red herring prospectus (DRHP) with SEBI, signaling its intent to proceed with its IPO. The IPO will comprise a fresh issue of INR 120 Cr and an offer for sale (OFS) component of 6.66 Cr equity shares. Shareholders, including SAIF Partners India, Peak XV Partners, Micromax Informatics, and ixigo’s cofounders, will participate in the share sale.
Conclusion:
Ixigo’s stellar financial performance underscores its market position as a leading player in the travel aggregation space. With its upcoming IPO and strong financial fundamentals, ixigo is poised for continued growth and success in the dynamic travel industry.
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- Source: https://timesnext.com/ixigos-profits-soar-ahead-ipo-look-financial-performance/
