ixigo share falls 5% amid profit booking post healthy Sept qtr results

ixigo share price: Shares of online ticket booking platform ixigo, which is owned and operated by Le Travenues Technology, dropped up to 4.86 per cent to hit an intraday low of Rs 141.85 per share on Friday, October 25, 2024.

 

The drop in ixigo share price came after the company saw profit booking after posting a healthy set of September quarter of financial year 2025 (Q2FY25) results. 

 

Its revenue from operations increased 26 per cent year-on-year to Rs 206.5 crore, while earnings before interest, tax, depreciation and amortisation (Ebitda) surged 655 per cent to Rs 22.4 crore. 

 

Ixigo’s adjusted Ebitda stood at Rs 21 crore, reflecting a 326 per cent growth from the previous year.

 

Despite these positives, Profit After Tax (PAT) fell to Rs 13.1 crore from Rs 26.7 crore in Q2FY24. The drop was influenced by a deferred tax cost of Rs 5.2 crore, a share of loss from an associate, and the absence of an exceptional income of Rs 29.7 crore recognised in the previous year, Ixigo said in a statement.

 

“Q2FY25 has demonstrated our ability to maintain rapid growth despite capacity constraints and seasonality. On flights & buses we have maintained faster growth than the market and this quarter highlights what can be achieved through continuous product and conversion improvements, as well as our ability to target NBU demand and leverage synergies across our brands,” Aloke Bajpai, group CEO and Rajnish Kumar, group Co-CEO of ixigo said in a joint statement.

 

That apart, in a strategic move, ixigo announced its acquisition of a 51 per cent stake in Zoop Web Services for Rs 12.54 crore. The acquisition is aimed to enhance ixigo’s offerings for train travellers by integrating Zoop’s food delivery services, which currently operate at 192 stations and partner with around 400 restaurants. 

 

Bajpai added “The Zoop acquisition allows us to further enrich the experience for our train users. The tight integration of the delivery logistics with our large train user-base and the PNR status and crowdsourced train status data will help us deliver meals efficiently directly to the train berths of our users. This acquisition will open new opportunities for us to deepen our partnership with IRCTC, creating synergies to drive e-catering growth along with ticketing growth.”

 

Additionally, ixigo launched a “Food on Train” feature, allowing users to pre-order meals for delivery to their seats at these stations.

 

Ixigo is an online travel platform. It helps travellers plan, book, and manage trips across India. At 11:11 AM, shares of ixigo were trading 3.29 per cent lower at Rs 144.20 per share. In comparison, BSE Sensex was trading 0.80 per cent lower at 79.421.45 levels.