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ixigo (Le Travenues Technology Limited) on Thursday reported 54.11 per cent rise in consolidated net profit for December quarter at Rs 23.95 crore, driven by higher revenue from operations including flight, train, and bus ticketing services. The travel booking platform had logged a net profit of Rs 15.54 crore during the year-ago period, a regulatory filing said. During the quarter under review, ixigo's revenue from operations increased to Rs 317.56 crore from Rs 241.76 crore a year ago. Total expenses also rose to Rs 295.85 crore from Rs 223.67 crore. The gross transaction value (GTV) for ixigo's bus booking vertical grew over 36 per cent year-on-year in December quarter, whereas the flights vertical recorded GTV growth of more than 22 per cent despite industry-wide disruptions witnessed in December. "Our Q3 performance demonstrates our continued ability to outpace the market's growth with improving profitability. We are at a juncture in history where we will be judged not by our
Travel platform ixigo on Friday said it will raise Rs 1,296 crore from global technology investor and operator Prosus through a preferential issue of equity shares. In a regulatory filing, ixigo (Le Travenues Technology Ltd) said it is offloading a 10.1 per cent stake to Prosus (MIH Investments One B V) for Rs 1,295.56 crore (USD 146 million). The board of directors of ixigo have approved the issuance of 4,62,70,092 equity shares for Rs 1,295.56 crore, representing 10.10 per cent of the post-issue paid-up equity share capital by way of preferential issue on private placement basis to MIH Investments One B.V, the filing said. Prosus will invest Rs 1,295.56 crore (USD 146 million) for a 10.1 per cent stake in ixigo on a fully-diluted basis, corresponding to a share price of Rs 280 per share, a slight premium over the 10-day VWAP (Volume Weighted Average Price) of ixigo as on the relevant date for the transaction, the filing said. ixigo intends to utilise the proceeds for organic and