Shares of LE Travenues Technology (Ixigo) surged over 12% on January 29, even though the company reported a sharp decline in its Q3FY25 net profit.
At 1:37 PM on NSE, Ixigo shares were trading at Rs 140.71, up 12.13%. The company’s consolidated net profit for the December 2024 quarter dropped 49% year-on-year to Rs 15.5 crore, compared to Rs 30.6 crore in the same period last year. However, revenue grew significantly to Rs 241.7 crore, up from Rs 170.5 crore in Q3FY24.
Ixigo’s share of loss from associates before taxes stood at Rs 1.86 crore in Q3FY25, slightly improving from Rs 2.08 crore in the previous year. On the other hand, profit before taxes, exceptional items, and associate losses rose 46% year-on-year to Rs 23.31 crore from Rs 15.99 crore.
A lower deferred tax expense of Rs 5.90 crore helped boost the company’s profit before tax (PBT), which increased 41.8% year-on-year to Rs 21.46 crore from Rs 13.91 crore.
On a standalone basis, Ixigo reported net sales of Rs 240.81 crore for Q3FY25, marking a 41.16% rise from Rs 170.59 crore in Q3FY24. Despite higher revenue, standalone net profit fell 48.23% to Rs 17.36 crore from Rs 33.54 crore. Meanwhile, EBITDA improved 30.62% year-on-year to Rs 26.45 crore from Rs 20.25 crore.
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Source: Moneycontrol
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