Ixigo's spectacular growth FY23

15 November 2023

Ixigo has truly put the pedal to the metal in FY23 after achieving +ve margins.

a) Financials: Ixigo, an online travel agent (OTA), have achieved a remarkable growth of ~32% growth in revenue, Rs. 508cr in FY23 and achieved profitability of Rs 23cr, on account of recovery witnessed in the travel industry post-Covid-19 and strategic management decisions.
b) Margins: Its ROCE and EBITDA margins improved to 6% and 7% respectively in FY23. On a unit level, it spent Rs 0.97 to earn a rupee of operating revenue.
c) Strategic Decisions It’s worth noting that Ixigo acquired ConfirmTkt in February 2021 and the acquisition seems to have worked really well for the Gurugram-based company. After this deal, Ixigo emerged as the largest third-party train booking platform. The booking of train tickets was the highest revenue grosser with 61% followed by flight and bus which contributed 21% and 1% respectively to the scale in FY23.
d) Customer Base: As of March 2023, the ixigo group had crossed 66 million monthly active users across its platforms, ConfirmTkt, and AbhiBus. The travel platform has over 6 million daily active users and said it is growing at a rate of more than 8 million downloads a month, with the running rate being 50 million bookings yearly
e) Future Plans: Remarkable growth and lean cost structure helped Ixigo move into the black. With robust travel demand driving its success, Ixigo aims to scale its business to a projected Rs. 700cr. in FY24.