Ixigo, the online travel aggregator, has reported a nearly 5X surge in operating revenue, surpassing pre-pandemic levels and crossing Rs 500 crore. T
Ixigo, the online travel aggregator, has reported a nearly 5X surge in operating revenue, surpassing pre-pandemic levels and crossing Rs 500 crore. The company, owned by Le Travenues Technology Ltd, is targeting a 40% revenue growth in FY24, building on its impressive performance with revenue of Rs 111.6 crore in FY20.
As part of its expansion plans, the Gurugram-based company aims to achieve a projected Rs 700 crore in FY24. Emphasizing its financial stability, the company highlights its positive cash flow status and proudly announces an EBITDA margin exceeding 7% in FY23.
Ixigo has revealed a robust gross transaction value run rate of Rs 10,000 crore annually, with intentions to double this figure within the next two years. The company underscores its consistent profitability and maintains a positive financial outlook. According to an addendum submitted to the Securities and Exchange Board of India (SEBI) in October of the previous year, Ixigo reported a net profit of Rs 8.2 crore during the April-June 2022 quarter.
Aloke Bajpai, Group CEO and Co-founder of Ixigo, commented on their strategy, stating, “Our strategy of focusing on the next billion users has resulted in not just rapid growth in the last three years but also an expansion in our EBITDA margin and strong operating cash-flows.”
“With the government’s focus on infrastructure and capacity creation across airports, trains, and roads in India, we are confident of maintaining strong growth across transportation segments and solidifying our position as the leader in the next billion user travel segment,” he added.
Ixigo, founded by Aloke Bajpai and Rajnish Kumar in 2007, is a travel portal that provides trip tracking, travel bookings, and transportation search services. This innovative platform leverages artificial intelligence, machine learning, and data science to enable informed travel choices. By March 2023, the ixigo group had accumulated an impressive user base of over 66 million monthly active users, spanning across its platforms, including ConfirmTkt and AbhiBus. With over six million daily active users, the platform continues to experience remarkable growth, with a monthly download rate exceeding 8 million. It currently handles a running rate of 50 million bookings per year and has plans to expand into new segments, such as hotels and packages, in the near future.
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