Ixigo is a travel tech startup that offers an online booking platform under Le Travenues Technology. The  startup showed a 31 percent y-o-y increase in its revenue. The company also had a 3 times increase in  its profit in the same duration. According to the National Stock Exchange firm’s operating revenue  increased by 31 percent to Rs 656 crore in FY24. 

Entrackr mentioned in its report that the firm had a sizable profit in FY24 compared to the previous  financial year. The startup has a 3.3 percent decline in its revenue for the fourth quarter to Rs 164.8  crore in FY24. The company has secured a total of Rs 740 crore through its IPO from retail and anchor  investors. This travel tech company offers various services including hotel bookings, comparing and  predicting flight delays, transportation, and providing flexible flight bookings. The convenience fees  and commissions raised from airline, train, and bus booking or reservations are the primary sources of  income for Ixigo. 

The startup generates 56.4% income through train reservations, which increased by 24.2% to Rs 370  crore in FY24. The reservations of buses contributed to Rs 132 crore of the total revenue followed by  airlines with Rs 146 crore in FY24. After securing Rs 9.2 crore through interest and financial assets the  firm had a total income of Rs 665 crore. The company claims to have around 480 million active users  yearly. The travel tech startup focuses on improving its business model while offering more innovative  solutions, situating it well in the traveling market. The company strives to become the most customer centric OTA startup and empower Indian travelers with better services and choices for their travel. 

This Gurugram-based company saw a 77 percent Y-O-Y growth in passengers with the total booking numbers exceeding 95.9 million in the last fiscal year. The manufacturing, refund, share to clients,  legal, and other expenses increase the overall expenditure by 29.8 percent to Rs 628 crore in FY24. While 22.4 percent of the total expenditure goes to employee benefits. Ixigo went public last month  and its portion of non-institutional investors oversubscribed by 110.5 times while the IPO subscription  got oversubscribed by 98.3X. The travel company notices an 80 percent increase in its valuation than  the pre-IPO round. 

Conclusion: 

Le Travenues Technology is the parent company of this travel tech startup, Ixigo. Ixigo provides a seamless experience to its users by predicting flight delays, transportation, making hotel reservations,  and providing flexible flight bookings. The startup showed a 31 percent y-o-y increase in its revenue to  Rs 656 crore in FY24. The convenience fees and commissions raised through airline, train, and bus  booking or reservations are the majorsources of income for Ixigo. The startup generates 56.4% income  of the total revenue only through train reservations. The company claims to have around 480 million  active users per year. The manufacturing, refund, share to clients, legal, and other expenses increase  the overall expenditure of the firm by 29.8 percent to Rs 628 crore in FY24.