Hey There : )
Planify Feed
Travel aggregator IXIGO revenue crosses Rs 500 Cr in FY23
  • news
    Travel aggregator IXIGO revenue crosses Rs 500 Cr in FY23

    21 July 2023

    IXIGO has generated revenue exceeding Rs 500 crore in the fiscal year 2023. As of March 2023, it has surpassed 66 million monthly active users. The company, headquartered in Gurugram, aims to expand its business to an estimated Rs 700 crore in the fiscal year 2024. It asserts that it is currently cash flow positive and has achieved an EBITDA margin of over 7% in FY23.

    IXIGO, the company, declares that its gross transaction value run rate is presently Rs 10,000 crore per year and intends to double this figure within the next two years. The CEO and Co-founder of IXIGO, Aloke Bajpai, stated that "Our strategy of focusing on the next billion users has resulted in not just rapid growth in the last three years but also an expansion in our EBITDA margin and strong operating cash-flows". He also expressed confidence in maintaining strong growth across transportation sectors and solidifying their position as the leader in the travel segment for the next billion users, citing the government's focus on infrastructure development in airports, trains, and roads in India.

    By March 2023, the ixigo group had exceeded 66 million monthly active users across its platforms, namely ConfirmTkt and AbhiBus. The travel platform boasts over 6 million daily active users and claims a growth rate of more than 8 million downloads per month, resulting in approximately 50 million yearly bookings.