Online travel aggregator Ixigo registers 51% decline in net profit to Rs 14 crore in Q2
Le Travenues Technology, the parent company of online travel aggregator Ixigo, which went public in June, saw its net profit decline by 51% year-on-year (YoY) to Rs 14 crore for the quarter ended September 2024.
The company reported operating revenue of Rs 206 crore for the quarter, up 26% from Rs 164 crore a year ago.
The company’s total expenses rose to Rs 191 crore in the September quarter from Rs 169 crore in the same period last year.
The company has attributed the decline in profit to an increase in deferred tax cost of Rs 5 crore and the share of loss incurred by an associate at Rs 2 crore. The company has also recorded an exceptional income of Rs 30 crore in the September quarter of FY24, which was absent this year.
“In Q2FY25 our share of loss on Freshbus, which is an equity minority investment that we have, amounted to Rs 1.93 crore, with the loss inflated from Rs 75 lakh,” said Saurabh Devendra Singh, the company’s chief financial officer (CFO) during a post-earnings analysts call.
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