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January 24, 2025 by admin

EbixCash Travel unveils record Q3 FY24 results, achieves new growth milestones

EbixCash Travel, a subsidiary of Eraaya Lifespaces-owned Ebix Inc., has delivered exceptional results for the third quarter of FY24, highlighting its impressive growth momentum. Operating under the brand Ebix Travels Pvt Ltd (ETPL), the travel arm reported a Gross Merchandise Value (GMV) of INR 10,030 million, net revenue of INR 1,110 million, and an EBITDA of INR 75 million for the quarter ending December 2024.

Diverse travel solutions propel robust growth

Eraaya attributed this stellar performance to the diverse range of travel services offered across multiple segments. The Mercury division, which focuses on corporate travel, MICE (Meetings, Incentives, Conferences, and Exhibitions), luxury trains, and Swiss travel, generated revenue of INR 585.3 million and an EBITDA of INR 23.7 million.

The MICE division, in particular, stood out, managing over 30 groups and more than 6,000 travelers while maintaining an industry-leading margin of 8.48%. Meanwhile, the luxury travel segment made a strong impact, with the iconic Deccan Odyssey luxury train contributing INR 112.3 million in revenue. Other luxury train services and Swiss Travel Bureau GmbH, catering mainly to affluent American travelers, added INR 53.7 million to the revenue.

Despite seasonal variations in margins within the luxury train segment, it remains a vital part of Ebix Travel’s diversified portfolio.

Regional strength and growth in online travel

EbixCash Travel reported positive, albeit varied, results from its online travel platform, via.com, with standout growth in the Philippines and Indonesia. The platform achieved profitability of INR 86.8 million, and Singapore operations are expected to turn EBITDA positive in the next quarter.

The ASEAN region, encompassing India, the Philippines, and Indonesia, led the way with a GMV contribution of INR 8,117.4 million. The company’s expansion in these markets underscores its growing regional presence and sustained success.

Corporate retention and leadership in luxury rail travel

ETPL also made significant strides in its corporate travel division, with five major clients currently in the renewal phase. In addition, EbixCash Travel further strengthened its position as a leader in luxury rail travel, serving 1,447 passengers on the Deccan Odyssey, the highest post-COVID passenger count for any operator.

Bright outlook for 2025

Naveen Kundu, Managing Director of EbixCash Travel Services, expressed optimism about the company’s future, stating: “With a solid order book for 2025, Ebix Travel is well-positioned to continue its growth journey and maintain its leadership in the travel solutions space.”

Moving forward, EbixCash Travel aims to sustain its upward trajectory, supported by strong regional performances, an expanding luxury travel portfolio, and a solid presence in the corporate travel segment.

EbixCash Travel unveils record Q3 FY24 results, achieves new growth milestones
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