Online travel aggregator ixigo reported a 78% surge in profit after tax for the June 2024 quarter, reaching Rs 14.9 crore. Revenue also grew 16% year-on-year.
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Mumbai, Aug 1 (PTI) Online travel aggregator ixigo on Thursday said its profit after tax (PAT) for June 2024 quarter surged 78 per cent to Rs 14.9 crore from Rs 8.4 crore recorded in the same period of previous fiscal.
At the same time, the company said, revenue from operations grew by 16 per cent year-on-year to 181.9 crore in the latest April-June quarter compared to Rs 156.6 crore in the first quarter of FY24.
EBITDA (earnings before interest, taxes, depreciation and amortization) also jumped 62 per cent year-on-year to Rs 19.2 crore in the reporting period, while adjusted EBITDA increased to Rs 20.3 crore, up 48 per cent from Rs 13.7 crore in the year-ago quarter.
Adjusted EBITDA comprises EBITDA plus ESOP (employee stock ownership plan) expenses less other income.
"We remain committed to growing responsibly and balancing profitability with growth given we will continue investing into initiatives that help us in the long term," said Saurabh Devendra Singh, Group CFO, ixigo.
"We continued to see momentum in our growth in Q1 FY25, with an all-time high GTV, revenue from operations, contribution margin and adjusted EBITDA for the quarter. We continue to expand rapidly and improve our market share and at the same time have been able to improve our profitability," the company said.
The government's initiatives on infrastructure, capacity creation and spiritual tourism are set to benefit our sector, it said.
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