ixigo shares plummeted over 11% in early trade to hit their all-time low at INR 118.75 apiece on the BSE ahead of Q3 FY25 results
At 11:42 AM, the market capitalisation of the online travel aggregator tumbled to INR 4,707.53 Cr (around $544 Mn)
ixigo’s consolidated net profit declined 51% to INR 13.08 Cr in Q2 FY25 from INR 26.70 Cr in the year-ago quarter
Shares of travel tech company Ixigo
plummeted over 11% in early trade to hit their all-time low at INR 118.75 apiece on the BSE today (January 28) ahead of its December quarter earnings announcement.
At 11:42 AM, the stock was trading at INR 120.95, 9.43% lower than its previous close.
Amid a decline in its share price, the market capitalisation of the online travel aggregator tumbled to INR 4,707.53 Cr (around $544 Mn).
ixigo’s consolidated net profit declined 51% to INR 13.08 Cr in the second quarter of the ongoing fiscal year (Q2 FY25) from INR 26.70 Cr in the year-ago quarter.
Meanwhile, revenue from operations rose 26% to INR 206.47 Cr in Q2 FY25 from INR 163.91 Cr in the corresponding quarter last year.
EBITDA surged 655% year-on-year to INR 22.40 Cr, while adjusted EBITDA (excluding ESOP expenses) rose 326% to INR 20.99 Cr from INR 4.92 Cr in Q2 FY24.
Earlier this month, brokerage JM Financial initiated coverage on the stock with a ‘buy’ rating, saying ixigo is the emerging dark horse in India’s OTA market.
The brokerage gave ixigo a target price of INR 180 per share, which implies an upside potential of almost 35% from the stock’s previous close.
(The story will be updated shortly.)
