🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Decoding Q2 FY25 for OTAs ft. MMT, Ixigo, EaseMyTrip and Yatra

EntrackrEntrackr · 11m ago
Decoding Q2 FY25 for OTAs ft. MMT, Ixigo, EaseMyTrip and Yatra
Medial

Indian online travel agencies (OTAs) business has bounced back after the pandemic on the back of revenge travel and the increased appetite of Indians towards leisure and business travel. The increased share of wallets on travel led to growth across four major OTAs in Q2 FY25. MakeMyTrip (MMT) continued to dominate the online travel space, but recently listed Ixigo has emerged as the second-largest OTA based on this metric. While we will discuss Ixigo later, let's focus on MMT for now. MakeMyTrip reported Rs 1,354 crore in revenue minus service costs in Q2 FY25. The last quarter was the best ever quarter for MMT in terms of profit as its profit after tax (PAT) zoomed almost 9X to $18 million, as compared to the corresponding quarter last year (Q2 FY24). Income from air travel grew 25.2% amounting to Rs 512 crore in Q2FY25 when compared to Q2FY24 while revenue hotels and package services contributed Rs 496 crore (revenue less service cost) and grew 15.3% quarter-on-quarter. Bus ticketing and other services (including trains) stood at Rs 210 crore and Rs 185 crore, respectively. Ixigo has turned out to be the second largest OTA player as the firm registered 25.6% growth to Rs 206 crore in Q2FY25 from Rs 164 crore in Q2FY24. It reported a profit of Rs 13 crore in the same period. On the revenue front, income from train bookings was the largest, contributing 53% which increased 19.1% QoQ to Rs 110 crore (minus service cost) in Q2FY25. Collection from the bus and air increased 42.8% and 37.45% to Rs 40 crore and Rs 56 crore, respectively, in Q2FY25. EaseMyTrip, on the other hand, posted a flat growth with its modest revenue less service cost growth to Rs 131 crore in Q2 FY25 from RS 130.7 crore in Q2 FY24. However, according to IFRS, its revenue from operations stood at Rs 145 crore in Q2FY25 with the profits dwindling by 42.6% to Rs 27 crore in Q2FY25, as compared to Rs 47 crore in Q2FY24. Income from sale of flight tickets decreased by 20% to Rs 116.2 crore in Q2 FY25 from Rs 116.2 Q2 FY24. Whereas the hotels and other allied services saw an increase of 144% and 64.5%, respectively. Yatra, listed on NASDAQ (operational in India), has recorded 20% quarter-on-quarter growth in revenue less service cost to Rs 94 crore in Q2 FY25. However, the company posted 2.5X growth to Rs 236 crore in Q2FY25, if we don't exclude the service cost component. In Q2 FY25, the company generated Rs 43.3 crore from its air ticketing segment, Rs 30 crore from hotels (net of discounts and service fees), Rs 7.5 crore from bus/train bookings, and Rs 13.5 crore from other operating activities, including advertising.

Related News

Decoding the financial performance of India's top OTA players

EntrackrEntrackr · 2y ago
Decoding the financial performance of India's top OTA players
Medial

India's top online travel agency (OTA) players, including MakeMyTrip, Ixigo, EaseMyTrip, and Yatra Online, have reported significant growth and profitability in the last financial year. MakeMyTrip led the pack with a 95% increase in operating revenue, making the majority of its revenue from hotels and packages. Ixigo also saw growth and turned profitable, while EaseMyTrip achieved impressive growth and profitability mainly through air ticketing. Yatra Online also witnessed growth and profitability, generating revenue from air ticketing, hotels and packages, and advertising. However, Cleartrip experienced a decline in scale and increased losses. The market remains attractive for these players due to the expanding middle class and rising overseas travel.

Ixigo set to acquire 51% stake in train food delivery firm Zoop

EntrackrEntrackr · 1y ago
Ixigo set to acquire 51% stake in train food delivery firm Zoop
Medial

Travel booking platform Ixigo is all set to acquire a majority stake in Zoop Web Services Private Limited. The board of directors at Ixigo approved the acquisition during a meeting held on October 24, 2024. The deal involves Ixigo purchasing a 51% stake in Zoop for a total consideration of Rs 12.54 crore, which includes a non-compete fee. This transaction is subject to the fulfillment of certain conditions, as outlined in the definitive agreements signed by both companies. The acquisition will be executed through a combination of secondary and primary share purchases. Zoop is known for providing e-catering and other solutions for the railway ecosystem. By integrating Zoop’s offerings into its platform, Ixigo aims to provide a more comprehensive travel experience to its users. This acquisition makes sense for Ixigo as 53% of its revenue collected in Q2 FY25 came from the train vertical. Zoop offers meal bookings, PNR status checks, and other railway-related services. It operates across 18 states and provides services at 192 railway stations. The company partners with nearly 400 active restaurants. In addition to acquiring the majority stake, Ixigo has secured an option to purchase the remaining 49% stake in Zoop in the future. This is the third major acquisition for Ixigo. In February 2021, it acquired a 100% stake in the train booking app Confirmtkt, while it took over the bus aggregator platform AbhiBus in August of the same year. Ixigo's revenue from operations saw a 26% growth to Rs 206.47 crore in Q2 FY25, compared to the same period in FY24. However, the company's profit after tax (PAT) experienced a significant decline of 51%, dropping from Rs 26.70 crore in Q2 FY24 to Rs 13.08 crore in Q2 FY25.

EaseMyTrip posts Rs 118 Cr revenue in Q2 FY26; slips into losses

EntrackrEntrackr · 14d ago
EaseMyTrip posts Rs 118 Cr revenue in Q2 FY26; slips into losses
Medial

EaseMyTrip posts Rs 118 Cr revenue in Q2 FY26; slips into losses Online travel aggregator (OTA) platform EaseMyTrip struggled during the second quarter of the ongoing fiscal year (FY26), with revenue declining over 18% and losing profitability. EaseMyTrip’s operating revenue decreased by 19% to Rs 118 crore in Q2 FY26 from Rs 145 crore in Q2 FY25, as per its financial statements filed with the National Stock Exchange (NSE). Air ticketing contributed 61% of the company’s revenue but fell 22% to Rs 72 crore in Q2 FY26, down from Rs 92.5 crore in Q2 FY25. Hotel packages accounted for 27% of total revenue, generating Rs 32 crore. Including other undisclosed income, its total income for Q2 FY26 stood at Rs 126 crore, compared to Rs 150 crore in Q2 FY25. According to the disclosure, the company’s revenue decreased by 22% to Rs 232 Cr in H1 FY26 from Rs 297 Cr in H1 FY25. EaseMyTrip’s total expenses rose 6% to Rs 120 crore in Q2 FY26 from Rs 113 crore in Q2 FY25. Employee benefit accounted for 26% of the total, increasing 24% to Rs 31 crore in Q2 FY26. Payment gateway charges, service costs, and advertising were other major costs for EaseMyTrip in the last quarter. With the dip in revenue and expense increasing, the company slipped into losses of Rs 36 crore in Q2 FY26 as compared to a profit of Rs 27 crore in Q2 FY25. On a unit basis, the Delhi-based company spent Rs 1.02 to earn a rupee of operating revenue during the last quarter. The company also announced the change of its senior officials in which Mr. Sankalp Kaul was appointed as Chief Technology Officer (CTO) of the Company replacing Mr. Naimish Sinha and Mr. Manmeet Ahluwalia was appointed as Chief Marketing Officer (CMO) of the Company. EaseMyTrip's board has approved the issuance of 55.93 crore fully paid-up equity shares worth Rs 514.06 crore on a preferential basis. The shares will be allotted to seven non-promoter investors including Ashish Begwani, Sunil Jain, Dhankalash Distributors, Divyank Singhal, Levo Beauty, SSL Nirvana Grand Golf Developers, and Javaphile Hospitality.

Flipkart-owned Cleartrip spent Rs 988 Cr to earn Rs 97 Cr in FY24

EntrackrEntrackr · 1y ago
Flipkart-owned Cleartrip spent Rs 988 Cr to earn Rs 97 Cr in FY24
Medial

While all online travel agents (OTAs) including MakeMyTrip, Ixigo, Yatra and EaseMy Trip have been profitable for past several quarters, Cleartrip has recorded over Rs 800 crore loss in the fiscal year ending March 2024, despite achieving 98% year-on-year revenue growth. For background, Cleartrip was acquired by Flipkart in April 2021 for $40 million in a distress sale. Cleartrip’s net revenue from operations grew by 98% to Rs 97 crore in FY24 from Rs 49 crore in FY23, its annual financial statements sourced from the Registrar of Companies show. Focusing on its gross operations, Cleartrip collected Rs 369 crore in service charges from customers and Rs 240 crore in commissions and incentives in FY24. However, the company provided discounts totaling Rs 525 crore on its services and incentives, which was unexpected and brought its net operating revenue down to Rs 97 crore for FY24. This covers the revenue side; now let’s look at the major cash burn for the Flipkart-owned company in FY24. Cleartrip allocated 40% of its total costs to employee benefits in FY24, which surged by 61.3% to Rs 400 crore. This amount includes Rs 180 crore in non-cash ESOP costs. Excluding ESOPs, Cleartrip’s expenditure on salaries and wages stood at Rs 220 crore in the fiscal year ending March 2024. The firm spent Rs 128 crore on advertising and marketing, while its commissions and brokerage costs amounted to Rs 70 crore in FY24. Cleartrip also allocated Rs 91 crore to payment gateway charges, which is notable given that its revenue stood at only Rs 97 crore. Its outsourcing, information technology, legal and other overheads took the overall cost up by 26.7% to Rs 988 crore in FY24 from Rs 780 crore in FY23. See TheKredible for the detailed expense chart. Cleartrip refused to comment on queries sent by Entrackr. The increase in overall cost outpaced the revenue growth which led its losses to increase by 18.4% to Rs 810 crore in FY24, compared to Rs 684 crore in FY23, while its EBITDA margin stood at-399%. In FY24, its expense-to-earning ratio was recorded at Rs 10.1 as compared to Rs 15.9 in the previous fiscal year. On the competition side, MMT reported revenue of $792 million (Rs 6,650 crore) in FY24, along with $216.7 million (Rs 1,820 crore) in profits. Meanwhile, Ixigo, EaseMyTrip, and Yatra have recorded Rs 656 crore, Rs 590 crore, and Rs 448 crore in revenue, respectively.

Ixigo ends Q2 FY25 with Rs 206 Cr revenue and Rs 13 Cr PAT

EntrackrEntrackr · 1y ago
Ixigo ends Q2 FY25 with Rs 206 Cr revenue and Rs 13 Cr PAT
Medial

Online travel aggregator (OTA) Ixigo’s revenue from operations grew 26% to Rs 206.47 crore in Q2 FY25 as compared to the same quarter of FY24. The growth was steered by the flight and bus segment. The flight gross transaction value grew by 43% YoY, while the bus GTV increased by 46%. The company’s contribution margin also improved by 24% to Rs 91.08 crore in Q2 FY25, compared to Rs 73.67 crore in Q2 FY24, the company said in a stock exchange filing. However, the contribution margin as a percentage of revenue from operations slightly decreased from 45% in Q2 FY24 to 44% in Q2 FY25. The Gurugram-based company generated the majority (53.5%) of its operating revenue from train ticketing amounting to Rs 110.4 crore in Q1 FY25. Flight and bus booking services contributed 27% and 19.3% to the company’s coffers, respectively. The firm’s operating expenses rose in Q2 FY25, reflecting increased investments in growth. Employee expenses and marketing costs contributed to this spike, which was necessary to support the company’s expansion in user acquisition and market penetration. Despite the rise in costs, EBITDA saw a sharp increase of 655%, reaching Rs 22.4 crore in Q2 FY25, compared to Rs 2.96 crore in Q2 FY24. Adjusted EBITDA also jumped 326% to Rs 20.99 crore in Q2 FY25. Ixigo profit after tax (PAT) declined by 51%, from Rs 26.70 crore in Q2 FY24 to Rs 13.08 crore in Q2 FY25. This decline was primarily due to a deferred tax charge of Rs 5.26 crore in Q2 FY25.

Ixigo revenue rises 37% to Rs 283 Cr in Q2 FY26

EntrackrEntrackr · 1m ago
Ixigo revenue rises 37% to Rs 283 Cr in Q2 FY26
Medial

Ixigo revenue rises 37% to Rs 283 Cr in Q2 FY26 Online travel platform ixigo (Le Travenues Technology Ltd) reported strong year-on-year growth in revenue during the second quarter of FY26, though higher expenses dragged the company into a small loss for the period. The company’s revenue from operations grew 37% year-on-year to Rs 283 crore in Q2 FY26 from Rs 206.5 crore in the same quarter last year, according to its consolidated financial statements filed with the stock exchanges. Its total income rose to Rs 288 crore from Rs 211 crore a year earlier. The Gurugram-based company generated the largest share (43%) of its operating revenue from train ticketing, which rose to Rs 123 crore in Q2 FY26 from Rs 110 crore in Q2 FY25. Flight and bus booking services contributed 31% and 23% to the company’s revenue, respectively. On the expense front, ixigo’s total costs increased 52% YoY to Rs 290.4 crore in Q2 FY26 from Rs 191.5 crore in Q2 FY25. This included employee benefit expenses of Rs 74.2 crore (up from Rs 38.7 crore) and other expenses of Rs 212.3 crore (up from Rs 149.9 crore). As a result, the company reported a pre-tax loss of Rs 4 crore during the quarter, compared to a profit of Rs 18.3 crore in Q2 FY25. Its net loss stood at Rs 3.5 crore against a profit of Rs 13.1 crore in the year-ago period. For the first half of FY26, ixigo posted revenue of Rs 597.2 crore, up 54% from Rs 388.3 crore in H1 FY25. However, its net profit fell to Rs 15.5 crore from Rs 27.9 crore in the corresponding period last year, reflecting higher operating costs. As of September 30, 2025, the company’s total assets stood at Rs 989 crore, including cash and cash equivalents of Rs 138.8 crore. During the quarter, ixigo also entered into a share subscription agreement with MIH Investments One B.V. for the proposed preferential allotment of up to 4.63 crore equity shares at Rs 280 per share, amounting to Rs 1,295.5 crore, subject to shareholder approval. At the close of trading on Wednesday, Ixigo’s shares were priced at Rs 325, giving the online travel aggregator a market capitalization of Rs 12,686 crore.

Download the medial app to read full posts, comements and news.