Le Travenues Technology (IXIGO) Q4 23/24 earnings summary

Executive summary

• FY24 saw GTV rise 38% YoY to over ₹102,825.49 million, with annual active users surpassing 480 million and robust growth across all key verticals.

• The company completed its IPO in June 2024, listing on NSE and BSE, and received a strong investor response.

• Strategic partnerships with PhonePe and Meesho, and the launch of TravelSuperMall.com, expanded reach, especially in Tier II–IV towns.

• Brand marketing spend increased to ₹55 crore in FY24, supporting long-term brand saliency and regional campaigns.

• Board approved FY24 results with an unmodified audit opinion and reappointed all Independent Directors for a new term.

Financial highlights

• FY24 revenue from operations rose 30.85% YoY to ₹6,558.73 million; Q4 FY24 revenue was ₹1,648.52 million, up 20.4% YoY.

• Contribution margin increased 34.7% YoY to ₹2,938.48 million (44.8% of net revenue).

• Adjusted EBITDA grew 24.73% YoY to ₹553.12 million; PAT surged 212.3% YoY to ₹730.61 million, including a ₹297.21 million exceptional gain.

• Gross Transaction Value reached ₹102,825.49 million in FY24, up from ₹74,524.3 million in FY23.

• Q4 FY24 PAT up 55.2% YoY; EBITDA for Q4 FY24 up 23.2% YoY.

Outlook and guidance

• Management expects to outpace OTA market growth, with double-digit growth in trains, faster-than-market growth in flights, and strong potential in buses.

• Focus on deepening penetration in next billion user markets and expanding B2B reach via new agent portal.

• Continued investment in AI and technology to drive operating leverage and customer engagement.

• Hotel business in early growth phase, seeing double-digit month-on-month growth from captive user base.

• Flight take rates expected to stabilize at 7–7.5%, with some margin compression due to distribution deals.