IXIGO posts 26% revenue growth in Q2 FY25, PAT down 51% due to tax impact

Le Travenues Technology Limited, the parent company of Ixigo, reported a 25.96% year-on-year increase in operating revenue from operations for the second quarter of FY25.

However, profit after tax (PAT) slumped by 51.01% YoY to Rs 13.08 crore, down from Rs 26.7 crore in the same period a year earlier, largely due to increased tax expenses and other adjustments.

During the half-year ended September 30, 2024, the company completed its initial public offering (IPO) and incurred Rs 471.38 crore in related expenses, with Rs 73.29 crore worth of such expenses allocated to the company. Of this, Rs 61.61 crore was adjusted against the securities premium.

Revenue surged to Rs 206.47 crore in Q2 FY25, compared with Rs 163.91 crore earned in the same quarter last year. Total income followed suit, rising by 26.98% YoY to Rs 210.91 crore, up from Rs 166.09 crore in Q2 FY24.

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Total expenditures increased by 13.43% year-over-year, reaching Rs 191.46 crore in Q2 FY25, compared with Rs 168.8 crore in Q2 FY24.

Train bookings remained IXIGO's largest revenue driver, contributing Rs 110.43 crore in Q2 FY25, accounting for nearly half of the company's transport booking revenues. This marks a 19.6% growth from Rs 92.3 crore in the same period last year.

Flight bookings, IXIGO's second-largest revenue source, saw a more significant surge, growing by 42.16% to Rs 55.8 crore in Q2 FY25, up from Rs 39.25 crore in the year-ago period.