Le Travenues Technology (IXIGO) Q3 24/25 earnings summary

Executive summary

• Achieved record-breaking Q3 FY25 with GTV of INR 40,363.21 million, up 48% year-over-year, and revenue from operations of INR 2,417.61 million, up 42% year-over-year, driven by strong growth in train, flight, and bus segments.

• Maintained leadership in user base, with monthly active users reaching 86 million and 31 million passenger segments booked in Q3.

• Contribution margin increased 32% year-over-year to INR 1,025.48 million, and adjusted EBITDA rose 25% to INR 243.37 million, maintaining double-digit EBITDA margins despite higher marketing spend.

• Profit before tax (excluding associates and exceptional items) reached INR 233.13 million, up 46% year-over-year; net profit was INR 155.40 million, down from INR 306.48 million last year due to one-off tax items.

• Product innovation, cross-selling, and AI-driven tools such as the TARA chatbot and generative AI trip planner deepened customer relationships and improved efficiency.

Financial highlights

• GTV rose 48% year-over-year to INR 40,363.21 million; revenue from operations increased 42% to INR 2,417.61 million.

• Contribution margin grew 32% to INR 1,025.48 million; adjusted EBITDA for Q3 FY25 was INR 243.37 million, up 25% year-over-year.

• Profit before tax (excluding associates and exceptional items) was INR 233.13 million, up 46% year-over-year.

• Net profit for Q3 FY25 was INR 155.40 million; earnings per share (basic) was INR 0.40.

• Average transaction value per segment improved 15% year-over-year.

Outlook and guidance

• Management expects continued growth, leveraging product-led initiatives, organic expansion, and investments in technology, AI, and hotels.

• Focus on deepening penetration, enhancing offerings, and expanding value-added services and B2B/corporate avenues.

• No slowdown observed in travel demand, with growth driven by Tier 2/3/4 towns and Gen-Z consumers.