Ixigo profit more than doubled in FY24 at Rs 73 crore, income up 28%

Travel technology platform Ixigo, which recently made its debut on the stock exchanges, reported a significant increase in profit for FY24. The company announced its fourth quarter and full year FY24 results on July 4, showing a profit of Rs 73 crore, more than double the Rs 23 crore profit from the previous financial year.

Key financial highlights for FY24 include:

- Total Income: ₹665 cr., a 28.6 percent increase from ₹ 517 cr. in FY23.
- Gross Transaction Value (GTV): Over ₹ 10,000 cr., marking a 38 percent year-on-year (YoY) growth for the full year and a 34.9 percent YoY growth for Q4 FY24.

The growth was driven primarily by a 75 percent increase in flight GTV for the full year and a 63.6 percent increase for Q4 compared to the same quarter last year. Ixigo noted that despite the flights market growing at a single-digit rate in the fourth quarter, take rates contracted due to supply constraints and higher airfares.