Garner Financial services

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LE TRAVENUES TECHNOLOGY LIMITED (IXIGO)Shares available.

Online travel platform Ixigo returned to profitability in the June quarter, ahead of its proposed initial public offering (IPO), the company informed the markets regulator.

For the year ended March 2022, its loss was at ₹21.2 crore against a profit of ₹7.5 crore in FY21, primarily due to covid-led disruptions and employee stock ownership plan allotted to employees.

In the June quarter, Ixigo’s operating revenue doubled to ₹118.8 crore, as against ₹56.4 crore in year-ago quarter.

Income from ticketing constitutes 94% of its operating revenue. It also booked other income of ₹10 crore primarily on a write-back of a liability.

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