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

Executive summary

• Achieved record GTV of ₹149,715.86 Mn in FY25 (up 46% YoY) and ₹44,183.76 Mn in Q4 FY25 (up 65% YoY), with revenue from operations rising 39% to ₹9,142.46 Mn and adjusted EBITDA up 71% to ₹947.72 Mn.

• User base reached 544.35 Mn annual active users and 83.56 Mn monthly active users, with 15.41 Mn annual transacting users and a repeat transaction rate of 85.8%.

• Buses and flights were the fastest-growing verticals in both GTV and revenue, with visible market share gains and deep penetration in Tier II/III cities.

• Value-added services, especially Travel Guarantee, contributed to new user acquisition and market expansion, introducing many to new travel modes.

• Strategic investments in technology, AI, and brand marketing enhanced customer experience, operational efficiency, and supported margin expansion.

Financial highlights

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

• Q4 FY25 GTV: ₹44,183.76 Mn (+65% YoY); FY25 GTV: ₹149,715.86 Mn (+46% YoY).

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

• Q4 FY25 adjusted EBITDA: ₹291.40 Mn (+70% YoY); FY25: ₹947.72 Mn (+71% YoY).

• FY25 profit after tax was ₹602.52 Mn, with Q4 FY25 profit after tax at ₹167.71 Mn (+128% YoY); operating cash flow for FY25 was ₹1,222.11 Mn.

Outlook and guidance

• Management expects robust growth to continue, leveraging AI-driven efficiency, product innovation, cross-selling, and expansion into adjacent travel services.

• Significant headroom exists in cross-sell, upsell, and underpenetrated segments like hotels; exhaustion of tax shields in FY26 will mark a transition to full tax-paying status.