Your search to know Ixigo, the leading travel aggregator posting Rs. 68 crore PAT in the first nine months of the financial year 2024, almost three times more than the previous years, ends here. Ixigo is a startup founded in 2007 that uses digitalisation to book flight, train, and bus tickets online, apart from hotel rooms. La Travenues Technology Pvt Ltd raised investments like $15.5 million in 2011 and $15 million in 2015. In 2021, for its pre-IPO IPO, it raised $53 million from many venture capitals to get SEBI’s approval.
Hence, to know about its spectacular third-quarter results of FY 24 and how the IPO-bound Ixigo unlisted share will perform in the short and long term, continue reading this blog until the end.
Why is Ixigo’s third quarter result FY 24 spectacular enough to raise its unlisted share price?
Le Travenues Technology Pvt. Ltd., The parent company of Ixigo, with continuous funding from Indian and foreign angel investors and venture capitalists, expanded its business in the last nearly 18 years. Hence, it is one of the leading travel aggregators in India that helps people book the right flights, trains, buses, and hotels, getting the best deals to save money, time, and effort. Hence, its revenue rapidly rises from only Rs. 1,1 million in 2020 to Rs. 5,17 million in 2023. For the first nine months of the current financial year, it has increased its net profit or PAT or profit of tax nearly three times. Ixigo’s PAT from a loss of Rs. 21 crore In FY 22, it made a net profit of Rs. 23.3 crore in FY 23. The FY results were 67 crores in the third quarter, nearly three times more than the previous year. Hence, this spectacular nine-month result increased it for FY 24 to raise its IPO release soon.
How will Ixigo’s stellar FY 24 nine-month results impact its unlisted share price?
From Rs. 100 in December 2023, the unlisted Ixigo share price has risen to Rs. 150 in March,
2024 because of its stellar third-quarter results. With smartphones in most Indians’ hands, Ixigo makes travelling easy, cheaper, and an enjoyable experience. It enables people, only with a few clicks on their smartphones, to book their favourite flights, trains, hotels, buses, and other services at cheaper costs.
Hence, its business model produces a steady income stream that will only increase in the future. As proof, Ixigo increased its FY 24 third-quarter profit by around three times more than the corresponding period last year, and its IPO is to come out soon; its unlisted share price will rise more to yield high returns.
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