Ixigo is India’s leading Full-fledged online travel agent (OTA) and largest third-party train travel booking platform. Ixigo has truly show robust performance in FY23 as compared to FY22.
Investors in the unlisted market have a great expectations for ixigo and it’s financial performance. Ixigo has been leading it’s industry and has a lot in bucket for future growth and expansion into various products and markets alongside with profitability. Let’s discuss about Ixigo and it’s financial performance in this blog.
India is expected to move from being the 5th largest economy in 2023 to become the 3rd largest
by the year 2027. With GDP growth rate of over 6%, India is expected to be the amongst the
fastest growing large economy of the course of next few years. The domestic market in India is
sizeable, attracting foreign investors and businesses to cater to this growing demand and utilize its
workforce potential with strong economic fundamentals.
IXIGO OVERVIEW
FY23 RESULTS OVERVIEW
Ixigo has achieved a remarkable growth in it’s financials:
1) REVENUE
Revenue of ixigo 32% in revenue i.e the revenue has gown up from INR 380 cr in FY22 to INR 501 Cr in FY23.
This has also affected ixigo share price in the unlisted markets.
Total income increased by 34.46% from ₹ 3,849.41 million in Fiscal 2022 to ₹ 5,175.73 million in Fiscal 2023 due to an increase
in business activity across all the segments and growth in other income. Increased travel demand
due to travel rebound across the categories we operate in led to growth in volume of transactions
on our platforms as well as improved advertising revenue. Net total revenue from contracts with customers, increased by 32.05% from ₹ 3,795.80 million in
Fiscal 2022 to ₹ 5,012.50 million in Fiscal 2023 and was primarily driven by (i) significant increase
in ticketing revenue by 29.04% from ₹ 3,619.20 million in Fiscal 2022 to ₹ 4,670.33 million in Fiscal
2023 as a result of an increase in the number of transactions on our OTA platforms, increasing ATV
Management Discussion & Analysis
ixigo Annual report | 17
and better take rates. (ii) significant increase in advertisement revenue by 67.03% from ₹ 144.20
million in Fiscal 2022 to ₹ 240.86 million in Fiscal 2023. (iii) Increase in other operating revenue due
to growth in the SaaS business.
2) EXPENSES
Our expenses comprise (i) employee benefits expense, (ii) finance costs, (iii) depreciation and
amortization expenses and (iv) other expenses.
Total expenses increased by 20.31% from ₹ 4,025.41 million in Fiscal 2022 to ₹ 4,842.92 million in
Fiscal 2023, primarily due to increase in Other expenses and Employee benefits expense as well as
on account of impact of full year consolidation of Abhibus, as in Fiscal 2022 Abhibus results were
consolidated only for 8 months post completion of acquisition on August 1, 2021.
3) ASSETS
Total assets increased by 8.81% from ₹ 5,384.71 million in Fiscal 2022 to ₹ 5,859.25 million in Fiscal 2023
4) Goodwill
Goodwill increased by 1.71% from ₹ 2,541.37 million in Fiscal 2022 to ₹ 2,584.76 million in Fiscal 2023
primarily on account of consolidation of Freshbus.
As of 16.12.23 IXIGO share price is Rs 135 per share with a face value of Rs 1.
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FAQ’S
Mcap of IXIGO is calculated by mutlipying per share price and number of shares. As of 16.12.23, Ixigo share price is INR 135 per share which makes it’s MCAP to be INR 5316 Cr.
Promoter holds around 17% stake in IXIGO, while other funds hold major stake in the company.
You can buy ixigo unlisted shares using bharatinvest who is the best dealer for unlisted shares.
- Yes, as per latest financials, IXIGO reported a profit of INR 51 Crore.
- Aloke Bajpai & Rajnish Kumar are the promoters of IXIGO
