Overview
- Le Travenues Technology, Ixigo’s parent, reported a net loss of Rs 3.46 crore for the quarter ended September 30 after recording a one-time ESOP expense of Rs 26.93 crore.
- Revenue from operations rose 36.9% year-on-year to Rs 282.7 crore, while gross transaction value increased 23% to Rs 4,347.5 crore.
- Excluding unusual items, management said profit before tax would have risen 26% year-on-year to Rs 24.44 crore.
- Total expenses jumped 51.7% to Rs 290.40 crore, driven by a 91.9% surge in employee benefits to Rs 74.18 crore and a 41.7% rise in other expenses to Rs 212.29 crore.
- Flights and buses led growth with revenue up 60.2% and 64.2% respectively, whereas trains grew 11.3% in revenue but saw a 9.2% drop in segment result after Indian Railways policy changes, with volumes stabilising later in the quarter.