Le Travenues Technology (IXIGO) Q4 24/25 earnings summary

Executive summary

• Achieved record GTV of ₹149,715.86 Mn in FY25, up 46% YoY, with Q4 GTV at ₹44,183.76 Mn (+65% YoY), and revenue from operations rising 39% to ₹9,142.46 Mn.

• Adjusted EBITDA for FY25 was ₹947.72 Mn, up 71% YoY, with Q4 adjusted EBITDA at ₹291.40 Mn (+70% YoY).

• Annual active users surpassed 544 million, with 85.8% repeat transaction rate and deep penetration in Tier II/III cities.

• IPO completed in FY25, with proceeds used for technology and AI investments, marking a pivotal year for growth and financial discipline.

• Focused on long-term growth through product innovation, value-added services, and customer experience, especially for underserved and new-to-market travelers.

Financial highlights

• Q4 FY25 revenue from operations: ₹2,841.37 Mn (+72% YoY); FY25 revenue: ₹9,142.46 Mn (+39% YoY).

• Q4 FY25 contribution margin: ₹1,208.86 Mn (+69% YoY); FY25: ₹4,013.48 Mn (+37% YoY).

• Adjusted EBITDA for FY25 at ₹947.72 Mn, up from ₹553 Mn last year; EBITDA margin improved to 10.61% in FY25.

• Q4 FY25 profit after tax at ₹167.71 Mn (+128% YoY); FY25 PAT at ₹602.52 Mn, impacted by one-off items.

• Operating cash flow for FY25 was ₹1,222.11 Mn, with total cash and equivalents at ₹3,373.45 Mn.

Outlook and guidance

• Management expects robust growth to continue, driven by product innovation, AI-driven efficiency, cross-sell/upsell, and expansion into adjacent travel services.

• Continued investment in technology, AI, and brand marketing expected to drive future operating leverage and customer engagement.

• Exhaustion of tax shields in FY26 will mark a transition to full tax-paying status, reflecting sustainable profitability.