IXIGO IPO: A rare profitable tech startup to hit the markets

Ixigo’s Profitable Growth Trajectory and Strategic IPO Plans Set to Reshape Online Travel Tech Landscape

Expert Analysis:

• Profitable Growth Amidst Competition: IXIGO's rare profitability in the online travel tech sphere, with a net profit of Rs. 65 crores in the first nine months of FY24, reflects resilience and commendable financial health, standing out amidst the competitive landscape.

• Strategic Business Model: Leveraging technology and customer-centric solutions, IXIGO curates personalized travel experiences, bolstering its market position. Strategic acquisitions like AbhiBus and Confirmtkt enhance offerings, resonating well with the tech-savvy demographic.

• Financial Prudence and Market Agility: With a lean cost structure and efficient marketing spending, IXIGO maintains operational efficiency and has also improved its margins and efficiency, with an EBITDA margin of 7% and an expense-to-revenue ratio of 0.97 in FY23. It navigates challenges with confidence and optimism.

• Strong resilience and growth during COVID-19.

• Dominant market share: >52% in IRCTC bookings, 12.5% in bus ticketing by H1 20224.

• Highest app usage among competitors, with 83 million monthly active users as of September 2023.