Ixigo files DRHP for Rs 1,600-crore IPO; turns profitable in FY21

Ixigo will list as a professionally managed company and among the few internet companies that will go public as a profitable company.

Ixigo posted a profit of Rs 7.5 crore in FY21, compared to a loss of Rs 26 crore in FY20, while it reported total income of Rs 138 crore, up from Rs 112 crore in FY20.

Earlier this week, founders Aloke and Rajnish had told CNBC-TV18 that they were seeing a strong recovery in travel, especially in the train and bus segments. The company had recently acquired bus ticketing platform AbhiBus and had acquired train ticketing platform Confirmtkt in February.

"All OTA players witnessed a significant decline in gross booking volumes and gross booking values during Fiscal 2021 across all segments, notably air and hospitality. Only, ixigo appears to have shown a negligible decline in the GTV compared to the steep decline in the GTVs of its peers. ixigo’s gross booking value was impacted marginally by the pandemic showing a decrease of merely 6.1% in Fiscal 21, and it seems to be the OTA that weathered the COVID storm well," Ixigo said in its DRHP.

"In 2021, ixigo trains, ConfirmTkt and ixigo flights have collectively seen the highest usage and engagement among all key OTA players and standalone transactional train mobile apps in India in terms of Monthly Active Users and sessions," it added.