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

EntrackrEntrackr · 10m 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.

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Ixigo takes on MMT with trip guarantee feature for train travelers

EntrackrEntrackr · 9m ago
Ixigo takes on MMT with trip guarantee feature for train travelers
Medial

Full-stack online travel aggregator (OTA) Ixigo has launched a travel guarantee feature for train travelers, positioning itself as a direct competitor to its arch-rival, MakeMyTrip. The Gurugram-based company claims that its new feature provides a 3X refund (1X ticket refund and 2X wallet refund) if a traveler’s waitlisted PNR fails to confirm. This feature also allows passengers to explore and book alternative last-minute travel options, with the added benefit of higher monetary compensation for unconfirmed train tickets. According to Ixigo, this initiative aims to tackle the challenges of long waitlists during peak travel periods while protecting passengers from last-minute fare hikes. 'This not only provides greater financial value but also empowers travelers to rebook their journey through alternate travel options without having to worry about last-minute fare hikes. With this initiative, we aim to make train travel more reliable, convenient, and worry-free for everyone,' said Dinesh Kumar Kotha, CEO of Ixigo Trains in a stock exchange filing. MakeMyTrip introduced a similar feature in 2021, offering 3X refunds under the scheme. The new feature is expected to resonate well with Ixigo users, as the company dominates the train-booking space, generating 53% (Rs 110 crore) of its revenue from train bookings last quarter. Ixigo reported total revenue of Rs 206 crore and a PAT of Rs 13 crore in Q2 FY25. In comparison, India's largest OTA, MakeMyTrip, reported Rs 1,772 crore in revenue for Q2 FY25 but did not provide a detailed income breakdown for train bookings.

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

EntrackrEntrackr · 9m 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.

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

EntrackrEntrackr · 10m 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.

Auxilo reports Rs 528 Cr revenue and Rs 112 Cr PAT in FY25

EntrackrEntrackr · 2d ago
Auxilo reports Rs 528 Cr revenue and Rs 112 Cr PAT in FY25
Medial

Auxilo reports Rs 528 Cr revenue and Rs 112 Cr PAT in FY25 Auxilo’s revenue from operations grew 48.3% to Rs 528 crore in FY25, up from Rs 356 crore in FY24, as per its annual financial statements sourced from the Registrar of Companies. After doubling its revenue in FY24, education-focused non-banking financial company (NBFC) Auxilo has delivered another strong performance in FY25, going past Rs 500 crore in revenue and posting over Rs 100 crore in profit after tax (PAT). The Mumbai-based NBFC provides education loans to students pursuing higher studies in India and abroad. Its offerings cover the complete cost of education, including tuition fees, pre-visa expenses, travel, and other related costs. Interest income formed the bulk of its business, contributing 90.5% of total operating revenue, which grew 49.4% to Rs 478 crore in FY25. Fees, commissions, and other operating income collectively stood at Rs 50 crore during the year. Including other income of Rs 16 crore, Auxilo’s total revenue reached Rs 544 crore in FY25. On the expenditure side, interest costs accounted for 71.5% of total expenses, rising in line with disbursements to Rs 282 crore in FY25. Employee benefits were recorded at Rs 56 crore, while overall costs increased to Rs 394 crore in FY25, compared to Rs 275 crore in FY24. The company’s controlled cost structure supported profitability, leading to a 62.3% jump in PAT to Rs 112 crore in FY25, against Rs 69 crore in FY24. Auxilo’s expense-to-revenue ratio also improved to 0.75 in FY25. Earlier this year, Auxilo raised Rs 50 crore from Motilal Oswal. Since its inception, it has secured over $100 million across equity and debt. The company competes with other well-funded education-financing players such as Grayquest, Avanse Financial, Financepeer, Propelld, Leap Finance, and Eduvanz.

Infibeam crosses Rs 1,000 Cr revenue threshold in Q2 FY25

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Infibeam crosses Rs 1,000 Cr revenue threshold in Q2 FY25
Medial

Digital payments firm Infibeam's operating revenue grew by 29.19% during the quarter ending September 2024. Moreover, the Ahmedabad-based company’s profit also increased 16.45% in Q2 FY25. Infibeam Avenues’s revenue from operations spiked to Rs 1,016.65 crore in Q2 FY25 from Rs 786.97 crore in Q2 FY24, its unaudited consolidated financial statements from Bombay Stock Exchange (BSE) show. Payment business accounted for 95.7% of its total collection which increased by 31.82% to Rs 973.34 crore in Q2 FY25. Meanwhile, there was a 10.81% decline in e-commerce platform business, which fell to Rs 43.31 crore. The company recorded a total revenue of 1,020.19 crore in Q2 FY25. Infibeam operates a diversified digital platform, with a primary focus on digital payments and e-commerce solutions. The company’s total expenses for Q2 FY25 rose by 30.41% to Rs 957.1 crore in Q2 FY25. Operating expenses was the largest contributor, rising by 29.98% to Rs 882.3 crore. Employee benefits increased by 10.86% to Rs 34.5 crore, while depreciation cost grew 3.64% to Rs 17.1 crore. The company also incurred Rs 23.2 crore on other undisclosed expenses. Infibeam’s profit after tax rose 16.495 to Rs 47.4 crore in Q2 FY25 from Rs 40.69 crore in the same period last year. Its ROCE and EBITDA margin stood at 1.62% and 7.96%, respectively. On a unit basis, the company spent Re 0.94 to earn a rupee of operating revenue in Q2 FY25. Infibeam competes with major players like Paytm, Razorpay, and PhonePe in the digital payments sector. At the end of today, its market cap stood at Rs 7,600 crore while the firm stock was trading at Rs 27.30.

Swiggy posts Rs 3,600 Cr revenue in Q2; Instamart contributes 13.6%

EntrackrEntrackr · 9m ago
Swiggy posts Rs 3,600 Cr revenue in Q2; Instamart contributes 13.6%
Medial

Foodtech and quick commerce giant Swiggy has managed a 30.3% quarter-on-quarter growth in its operating revenue which spiked to Rs 3,601 crore during Q2 FY25 as compared to Rs 2,763 crore Q2 FY24. This growth was largely driven by the expansion of its quick commerce businesses which grew 135% in the last quarter. Swiggy’s food delivery business continues to be a major contributor, accounting for 43.7% of the total collection in Q2 FY25. Revenues from this vertical grew 23% to Rs 1,575 crore from Rs 1,281 crore in Q2 FY24. The company’s quick commerce segment also saw remarkable growth, with revenue surging by 135% to Rs 490 crore in Q2 FY25 from Rs 208 crore in Q2 FY24. The segment's gross order value (GOV) growth was driven by an increase in order frequency and the addition of new stores, contributing significantly to the company’s overall revenue. Scootsy Logistics contributed a major 40% of Swiggy’s overall operating income. Income from this entity increased by 22% quarter-on-quarter to Rs 1,452 crore in Q2 FY25 from Rs 1,190 crore in Q2 FY24. Scootsy alone earned a total revenue of Rs 5,196 crore of revenue in FY24. This vertical is engaged in the business of supply chain services and distribution. Swiggy’s Dine Out, Genie, Swiggy Mini and other non-operating income took its total revenue to Rs 3,686 crore in Q2 FY25. On the cost side, the procurement of FMCG products for supply chain distribution formed 32.2% of its overall cost which increased by 16.1% to Rs 1,388 crore in Q2 FY25. Meanwhile, the delivery charges saw a modest 4.7% growth to Rs 1,095 crore in Q2 FY25. Swiggy spent Rs 607 crore and Rs 605 crore on employee benefits and advertising, respectively. Its legal, infrastructure, and other overheads pushed the overall cost up by 22.9% to Rs 4309 crore in Q2 FY25. The 30.3% scale and controlled expenditure helped Swiggy to decrease its losses by 4.9% to Rs 625 crore in Q2FY25 from Rs 657 crore in Q2FY24. It spent Rs 1.19 to earn a rupee in Q2FY25.

Awfis income crosses Rs 300 Cr in Q2 FY25, posts Rs 38 Cr PAT

EntrackrEntrackr · 10m ago
Awfis income crosses Rs 300 Cr in Q2 FY25, posts Rs 38 Cr PAT
Medial

Co-working solutions provider Awfis has registered decent growth in its revenue while maintaining profitability in the second quarter of FY25. The company’s revenue from operations surged 40.5% year-on-year to Rs 292.38 crore in Q2 FY25 from Rs 208.15 crore in the same quarter last year. Other income contributed an additional Rs 9.56 crore which drove its total income of Rs 301.95 crore for the quarter. On a quarterly basis, the firm's revenue jumped 13.46% from Rs 258 crore in Q1 FY25. Founded in 2015, Awfis provides office spaces for startups, SMEs, and large corporations, along with services such as food and beverages, IT support, and infrastructure solutions. Revenue from co-working spaces remained the largest segment that grew 43.1% to Rs 218.31 crore in Q2 FY25 from Rs 152.56 crore in Q2 FY24. The construction and fit-out projects segment brought in Rs 68.15 crore, while other services brought in Rs 5.9 crore to the overall revenue in Q2 FY25. Subcontracting cost was the largest burn which stood at Rs 56.13 crore, whereas employee benefits expenses increased to Rs 39.38 crore. Depreciation and amortization expenses grew 33.5% YoY to Rs 64 crore. Finance costs amounted to Rs 30.4 crore which pushed the firm’s total cost to Rs 287.29 crore in the September quarter. With an exceptional item income of Rs 24 crore, Awfis posted a profit after tax of Rs 38.67 crore. Awfis’ stock was listed on the NSE on May 30, opening at Rs 435 with a 13.58% premium over the issue price of Rs 383. Before Monday’s market closure, the company’s shares were trading at Rs 776.

Ola Electric’s revenue declines 26% Q-o-Q to Rs 1,214 Cr, losses up 43%

EntrackrEntrackr · 10m ago
Ola Electric’s revenue declines 26% Q-o-Q to Rs 1,214 Cr, losses up 43%
Medial

Electric two-wheeler manufacturer Ola Electric recorded a 26% decline in its operating revenue to Rs 1, 214 crore in Q2 FY25 when compared to Rs 1,644 crore in Q1 FY25. However, the firm registered 39% year-on-year increase in revenue from Rs 873 crore in Q2 FY24. In a shareholders letter, the company attributed the year-on-year growth to a 73.6% rise in deliveries, which reached 98,619 units during Q2 FY25. Revenue from its automotive segment stood at Rs 1,215 crore, while the cell segment contributed Rs 1 crore. The firm also registered Rs 100 crore from other income which brought its total income to Rs 1,314 crore in Q2 FY25. Cost of materials was the largest burn for the Bhavish Aggarwal-led firm which jumped 46.6% to Rs 1,072 crore from Rs 731 crore in Q2 FY24. On a quarterly basis, the cost declined by 18% from Rs 1,311 crore in Q1 FY25. During Q2 FY25, employee benefits expenses stood at Rs 139 crore while other expenses, including operational and administrative costs, contributed Rs 465 crore. The firm’s total expenses for Q2 FY25 stood at Rs 1,593 crore, a 21.8% surge from Rs 1,308 crore in Q2 FY24. When compared on a sequential basis, the total expenses decreased by 13.8% from Rs 1,849 crore in Q1 FY25. Overall, the company posted a net loss of Rs 495 crore, a 42.65% increase from Rs 347 crore in the previous quarter (Q1 FY25). The losses were down by 5.5% year-on-year from Rs 524 crore in Q2 FY24. Among the venture funded companies, Ola Electric’s closest competitor Ather posted Rs 339 crore of revenue with a net loss of Rs 183 crore in Q1 FY25. Its Q2 results are yet to be announced. The Tarun Mehta-led firm also filed its draft IPO papers in September. After consecutive declines in market share, Ola Electric regained traction in October, with sales increasing during the festive period. The company sold 41,605 units in October, which helped its market share climb to 30% in the last month from 27% in September. However, this figure remains lower than its earlier market shares, which were 32% in August, 39% in July, and 49% in June. At the closure of stock exchange on November 8, Ola Electric’s shares were trading at Rs 72.72, nearly 54% below its peak of Rs 157.53 in mid-August.

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