ixigo Q2 profit at Rs 63 cr on robust show in hotel booking biz
Ixigo reported a remarkable turnaround with a consolidated net profit of Rs 63.42 crore for the September quarter, bouncing back from a net loss of Rs 3.46 crore from last year. The surge in hotel bookings played a key role in this financial upswing, leading to operational revenue of Rs 320.96 crore.
On Saturday, travel and booking platform ixigo announced a Q2 profit of Rs 63.42 crore, driven by a successful hotel booking segment and a partial stake sale in Freshbus. This marks a stark contrast to the previous year's Q2 loss of Rs 3.46 crore. Hotels took the lead among ixigo's business lines, with gross transaction value (GTV) reaching Rs 111.34 crore, a staggering 159% increase year-over-year.
This is the first time the company has reported hotels separately. Overall, ixigo's revenue soared to Rs 320.96 crore, up 13% YoY, while total expenses rose to Rs 309.51 crore from Rs 291.89 crore. CEO Aloke Bajpai, Co-CEO Rajnish Kumar, and CFO Saurabh Devendra Singh attributed the strong performance to investments in hotels and artificial intelligence as keys to long-term growth.
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