Over the last few years, Indian online travel agencies have been going through tough times. The travel industry is one of the most affected sectors due to Covid-19, reflected in the financial reports of online travel agencies. Ixigo is India’s online travel booking platform that allows booking, planning, and managing trips. Like any other tech travel aggregator, Ixigo also faced a decline in its revenue, profit, and booking.
However, unlike other affected travel businesses, Ixigo managed the market slowdown well and showed business growth in FY21 despite the pandemic challenges. One of the company’s approaches during that time is to focus on innovative travel tech solutions that help consumers to use their services efficiently. Let’s see how Ixigo managed to maintain its business performance and battle against the market slowdown.
Ixigo’s Strategy To Maintain Business Growth And Profit
You might be curious to know how Ixigo managed to fight against the market slowdown. The covid-19 pandemic brings mass destruction not only to humanity but also to the travel industry.
At a time when travel agencies struggled to get new bookings, Ixigo focused on developing new products, which was the need of the time. As a result, Ixigo managed its business growth and revenue in the first quarter of FY23. The company recorded three times growth in terms of operating revenue from FY19 to FY22. Here’s how Ixigo was able to perform well against the market slowdown:
Focus On Building Product Experiences
During the market slowdown, Ixigo focused on using cutting-edge technology to enhance the travel experience. Even after the end of the lockdown, their online platforms conveyed the right information regarding the Covid-19 protocols and travel guidelines issued by different state governments. By doing so, they built a seamless product experience that ultimately increased booking on their platform. After the pandemic, most people prefer Ixigo over others for secure travel.
Expansion Of Services
The digital services also helped Ixigo to perform consistently and go against the market odds. Even Ixigo’s co-founder and group CEO Aloke Bajpai said, “The wide usage of Internet and smartphone helped Ixigo to add a large number of users despite the market slowdown.”
Moreover, the company also utilised artificial intelligence, machine learning and innovative data science solutions to cover a significant portion of travellers across the country.
The company’s officials also believe it expanded Ixigo’s services at the right time, giving them an edge over its competitors. Ixigo introduced the train booking service when other online travel agencies focused on airlines and hotel bookings, and Ixigo used to provide updated information about trains.
Launched Innovative Features
The focus of Ixigo from the start is to bring the AI features that make the online booking service as convenient as possible. On one side, where other online travel aggregators focus on normal features, Ixigo introduced travel assistance, a multilingual user interface, online running status, and AR features.
These innovative features attract a large number of users to their app. The effect of Ixigo’s untapped strategies also reflects its performance in the stock market. Ixigo share price went high as the company’s operating revenue increased thrice between FY 2019-2022.
Growth Of Ixigo In the Last Few Years
One of the biggest strengths of Ixigo is its products and technological advancement. The group founder Rajnish Kumar said, “We took bold bets on building a research team that worked on AI and data-driven predictive use cases such as train seat availability prediction, flight fare prediction and automated seat selection. Today these advanced algorithms and the millions of data points we feed into them every day ensure that our users get better information for making buying decisions”.
The mission of Ixigo is to become the trusted online travel aggregator of the next billion users and develop localised content and advanced app features that aim at solving the problems of travellers. It also plans to narrow its potential customers to smaller cities and towns.
The growth of the company in terms of revenue has been exceptional in the past few years. In FY20, Ixigo managed a gross transaction value of Rs 128 crore(due to the pandemic). However, the company managed to generate a value of Rs 1792 crore in FY22. The other thing to see here is the Ixigo unlisted shares that performed well in these years. In the second half of FY 2022, the price of its unlisted shares was higher and offered great returns to investors.
Why Investing In Ixigo Unlisted Shares Is Beneficial?
LE Travenues technology, popularly known as Ixigo, is not listed in the stock market yet. Ixigo unlisted shares are actively traded in the grey market that can be bought using the online brokerage platform. The current Ixigo unlisted share price is Rs 95, which keeps changing per the market condition and the company’s performance.
In the first quarter of June 2022, the company came in profit and earned a PAT of Rs 8 crore. Its revenue doubled from Rs 57 crore in FY22 to Rs 128 crore in the first half of FY23. Moreover, the Ixigo IPO is expected to launch by the end of this year. So it is a great opportunity for investors to buy unlisted shares of Ixigo before its IPO hits the market.
The company has shown tremendous progress and defied market odds to become India’s most valuable online travel agency. In the coming years, Ixigo is expected to focus on expanding its services and covering a large user base. So, it is the best time to invest in its unlisted shares as it involves less risk and performs well in the Pre-IPO market. You can easily invest in Ixigo unlisted shares by using Stockify. We are the best platform to buy unlisted shares in India, providing accurate data and unlisted share prices. Here you will get access to trending unlisted shares and financial data of the respective company. Invest in unlisted shares of top-performing companies with us.