Le Travenues Technology, the parent company of ixigo, India’s leading OTA for the Next Billion Users, announced impressive growth in Q2 FY25, driven by strong financial performance and strategic expansion into the train food delivery sector with the acquisition of Zoop, an authorized IRCTC e-catering partner.
The company’s Gross Transaction Value (GTV) for the quarter surged 40 per cent year-on-year (YoY) to INR 3528.7 crore, while Revenue from Operations increased by 26 per cent YoY to INR 206.5 crore. The quarter also saw a remarkable 326 per cent YoY growth in Adjusted EBITDA, reaching INR 21 crore, highlighting ixigo’s strong operational performance.
In H1 FY25, ixigo reported cash flow from operations of INR 70.4 crore, reflecting a 262 per cent YoY increase, further solidifying its financial strength. Profit Before Tax stood at INR 17.5 crore, showing significant improvement from a loss of INR 3.4 crore in Q2 FY24.
Acquisition of Zoop and launch of “Food on Train”
Marking a new milestone, ixigo has entered the train food delivery segment by acquiring a 51 per cent stake in Zoop Web Services Private Limited for INR 12.54 crore. Zoop, a key player in the train food delivery market, operates at 192 railway stations and is partnered with around 400 restaurants across India. The acquisition will allow ixigo to offer an enhanced dining experience for train travellers, integrating Zoop’s expertise with ixigo’s robust platform.
Leveraging this acquisition, ixigo launched the “Food on Train” feature across its train apps, enabling passengers to pre-order meals from a wide range of restaurants and have them delivered directly to their seats at station stops.
For the full fiscal year 2024, ixigo’s Gross Transaction Value (GTV) surpassed INR 10,000 Cr, marking a 38% year-over-year (YoY) growth. This growth was also reflected in the fourth quarter of FY24, which saw a 34.9% YoY increase in GTV. Notably, the Flight GTV expanded by 75% for the full year and by 63.6% for the fourth quarter compared to the same period the previous year.
New features & expansion
In addition to food delivery, ixigo introduced several new features this quarter, including Price Lock on Flights, Nearby Stations for Train Travelers, and Bus Insights, aimed at improving user experience across its travel categories. The company continues to target the next billion users (NBU) market, driving growth in its train, flight, and bus ticketing verticals.Aloke Bajpai, Group CEO, and Rajnish Kumar, Group Co-CEO, emphasised ixigo’s ability to maintain rapid growth despite seasonality, stating, “This quarter demonstrates our capacity to drive product improvements and conversion rates while targeting NBU demand. The Zoop acquisition enriches our service offerings for train users and opens new synergies with IRCTC for e-catering growth.”
Saurabh Devendra Singh, Group CFO, added, “In Q2 FY25, GTV grew by 40 per cent, and Revenue from Operations rose by 26 per cent. We maintained a double-digit margin with an Adjusted EBITDA of INR 21 crore, showcasing our focus on sustainable growth.”
This strategic expansion positions ixigo as a leader in the train travel and food delivery market, offering a seamless and enriched experience to its expanding user base across India.
