Summary: Le Travenues Technology Limited, parent company of ixigo, reported a 42% year-on-year revenue growth for Q3 FY25, reaching Rs 241.8 crore, driven by increased train and flight bookings. However, the company’s profit after tax (PAT) declined to Rs 15.5 crore from Rs 30.6 crore in Q3 FY24, primarily due to a deferred tax expense of Rs 5.9 crore compared to a deferred tax gain of Rs 16.8 crore in the previous period.
During the quarter, ixigo launched a new “Travel Guarantee” feature for train tickets, aimed at enhancing customer satisfaction by providing compensation for significant delays. The company also onboarded Indian cricket star Rohit Sharma as its brand ambassador for ixigo Trains, which is expected to increase the platform’s visibility and attract more users. Despite the profit dip, ixigo’s robust revenue growth and new initiatives indicate strong prospects in the competitive Indian travel-tech market.
Le Travenues Technology Limited, the parent company of the popular travel-tech platform ixigo, has reported a 42% year-on-year growth in its revenue from operations for the quarter ended December 31, 2024 (Q3 FY25). The company’s revenue surged to Rs 241.8 crore, driven by a substantial increase in train and flight bookings, signaling continued strong demand for travel services amid growing consumer confidence.
However, ixigo’s profit after tax (PAT) witnessed a decline, falling to Rs 15.5 crore compared to Rs 30.6 crore in Q3 FY24. The decline was primarily attributed to a deferred tax expense of Rs 5.9 crore in Q3 FY25, a sharp contrast to the deferred tax gain of Rs 16.8 crore the company reported in the same quarter the previous year. Despite the dip in profit, the company remains confident in its long-term growth prospects, buoyed by a strong operational performance.
One of the key highlights of the quarter was ixigo’s launch of a “Travel Guarantee” feature for train tickets, a move that is expected to further enhance the user experience by offering greater reliability and peace of mind for travelers. This new feature is designed to protect passengers by providing compensation in case of significant delays, adding a layer of customer-centric innovation to ixigo’s service offerings.
Additionally, ixigo has made headlines with its new brand ambassador, Indian cricket star Rohit Sharma, who will represent ixigo Trains. Sharma, one of India’s most popular and successful cricketers, is expected to boost ixigo’s visibility and attract a larger audience to the platform, particularly among cricket fans who are highly engaged in digital and mobile-based services.
Despite the profit decline, ixigo’s strong revenue performance and new product innovations indicate a positive trajectory for the company as it continues to expand its presence in India’s competitive travel-tech market. The partnership with Rohit Sharma is expected to further strengthen ixigo’s brand, while the new “Travel Guarantee” feature showcases its commitment to enhancing customer satisfaction in an evolving industry.
Looking ahead, ixigo’s parent company is optimistic about maintaining growth momentum in the coming quarters as it capitalizes on the booming demand for travel services, especially train and flight bookings, in the post-pandemic world.
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Last Updated on Friday, January 31, 2025 8:55 am by Startup Newswire Team
