Ixigo vs MakeMyTrip vs EaseMyTrip: How top travel platforms performed in Jan-March 2023?

India’s travel industry has witnessed a sudden uprise in demand especially since the end of 2022 and the beginning of this year. 

Multiple travel plans had been thwarted as the coronavirus pandemic entirely brought the industry to a standstill while also creating pent up demand among domestic and international travelers. 

The sudden surge in travel demand - be it train, air or buses, has pushed earnings of top travel companies such as MakeMyTrip, EaseMyTrip and Ixigo. 

In this blog, we will discuss how the top three players in the travel space performed in the Jan-March 2023 period?

Travel demand to and from India could see a jump in the coming months, according to a report by RateGain Travel Technologies, the SaaS provider to the travel industry

The latest edition of RateGain’s ‘Pulse’ report, focuses on the next three months of travel demand to and from India. The last few editions had reported a surge in travel demand due to pent-up demand in the summer of 2022. While bookings globally are cooling as per expectation, incoming travel demand in India will likely increase over the next three months.

To know more about the report, click here.

How MakeMyTrip performed during the Jan-March 2023 quarter?

Nasdaq-listed Indian traveltech company MakeMyTrip reported a profit of $5.4 million during the Jan-March 2023 period compared to a loss of $4.1 million in the same quarter of the previous fiscal on the back of a strong recovery in travel demand.

Travel packages and hotels account for the majority of MMT revenues and also helped the firm hit its highest ever bookings during a quarter. 

MakeMyTrip Revenue

The company reported a 67% rise in Q4 revenues to $148 million, supported by higher demand for travel and hotel bookings during the first three months ending March 2023. 

MakeMyTrip Profits

The travel booking portal reported a profit of $5.4 million, compared to a loss reported in the corresponding quarter previous year. Strong bookings growth and an income tax benefit of nearly $5 million helped the company report strong profit.

MakeMyTrip Bookings

Gross bookings in the fourth quarter were at $1,673.9 million as compared to $1,012.3 million, a 65% rise from the previous year. Airfare and Hotel bookings accounted for majority of the firm's total bookings. 

How EaseMyTrip performed in the Jan-March 2023 quarter?

Revenue

Easy Trip Planners, an Indian company that runs the online travel platform EaseMyTrip.com, experienced a significant increase of 92% in the fourth quarter profit amid a jump in travel bookings across sectors. 

EaseMyTrip Net Profit rose 33.5% in its profit during the fourth quarter. This surge was attributed to the growing demand for travel after the pandemic. In the quarter ending on March 31, the company's consolidated net profit reached 31.5 crore rupees, marking a rise from the previous year's figure of 23.3 crore rupees.

How Ixigo performed in FY23?

Ixigo, the online travel aggregator, has experienced a significant increase in operating revenue, surpassing pre-pandemic levels by nearly five times and exceeding Rs 500 crore.

The company aims to achieve a 40% revenue growth in FY24, building upon its impressive performance with revenue, and has set a target of reaching an estimated Rs 700 crore in FY24. Demonstrating its financial stability, the company declares its positive cash flow status and proudly announces an EBITDA margin of over 7% in FY23.

Ixigo discloses a robust gross transaction value run rate of Rs 10,000 crore per year and plans to double this figure within the next two years. 

IndMoney has not individually verified the data for Ixigo. To read the original source story please click here.

This is not investment advice. Investments in the securities market are subject to market risk, read all the related documents carefully before investing. Past performance is not indicative of future returns.