Intercity mobility platform and parent brand for IntrCity SmartBus and RailYatri has announced a steep hike in its revenue after it recorded 573 per cent increase in pre-Covid revenue for the fiscal year 2022-23. The company has also witnessed operating margins going up.
IntrCity said the its outstanding financial performance reflects the growing demand for its services and highlights its position as a dominant player in the intercity travel market. The company said its daily sales is coming for repeat travellers.
Operating at a capacity of 1.2 billion passenger-kilometres, IntrCity SmartBus achieved an impressive average occupancy rate of 91 per cent with operations in 14 states of the country. Furthermore, one-third of bookings are made directly through IntrCity’s dedicated mobile application and website.
Notably, IntrCity also announced that it is set to clock its first full year of profitability in FY23-24, after closing last year at -5 per cent EBITDA.
Besides Chitkul, the villages of Pooh, Nako, Leo, and Chango in the Kinnaur district will be the focus of development efforts under the Vibrant Village initiative. Additionally, plans are underway to establish a cultural and tourist centre in Chitkul to showcase the area’s rich cultural heritage and promote tourism activities.
Commenting on the results, Manish Rathi, Co-Founder, IntrCity said, “Our unwavering belief in the necessity for safe, reliable, and affordable shared road mobility has been exceptionally reinforced. We are sincerely grateful for the overwhelming response from consumers and remain committed to becoming the preferred choice for travellers throughout India. Given the government’s significant investments in road network upgrades, we anticipate bus travel to dominate the inter-city mobility landscape. We perceive substantial growth opportunities on both established and emerging routes.”The company has built its brand around technology, reliability, and consumer conveniences like in-bus washrooms, comfortable boarding lounges, and trained bus captains.
