EbixCash Travel, the subsidiary of Eraaya Lifesapces-owned Ebix Inc., has reported a stellar Q3 FY24 performance, marking a significant milestone in its growth trajectory. The Ebix travel arm, registered as Ebix Travels Pvt Ltd (ETPL), recorded 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 that ended December 2024.

Sharing the development, Eraaya said a diverse range of travel solutions fueled the robust performance. Mercury, a vertical encompassing corporate travel, MICE (Meetings, Incentives, Conferences, and Exhibitions), luxury trains, and Swiss travel, contributed INR 585.3 million in revenue and INR 23.7 million in EBITDA.

The MICE division delivered impressive results, handling over 30 groups and 6,000+ passengers while achieving industry-leading margins of 8.48 per cent.

In the luxury travel segment, the iconic Deccan Odyssey luxury train generated INR 112.3 million in revenue. In contrast, other luxury train operations and Swiss Travel Bureau GmbH, catering to American luxury clients, added INR 53.7 million in revenue. Although the luxury train segment experienced seasonal margin fluctuations, it remained a vital component of Ebix Travel’s portfolio.

Online travel agency via.com showcased mixed regional results, with standout performances in Indonesia and the Philippines, delivering profitability of INR 86.8 million. Singapore operations are on track to achieve positive EBITDA in the upcoming quarter. Across the ASEAN region, India, the Philippines, and Indonesia emerged as leaders, collectively accounting for a GMV of INR 8,117.4 million.

EbixCash Travels added 57 new clients in the large and mid-cap segment in 2023. The group reported growth of approximately 40 per cent in its business with LCC carriers while its GDS segments YOY grew by 37 per cent. EbixCash’s international passenger YOY growth was 52 per cent. In MICE & Event segments, EbixCash Travel continued to maintain the leadership position across India with a revenue growth of 25 per cent.

ETPL’s achievements this quarter include onboarding nine new corporate clients, which is projected to contribute an annualised INR of 580 million, and progressing toward renewals with five major corporate clients. ETPL further cemented its leadership in luxury train bookings in the rail division by serving 1,447 passengers, the highest by any single operator post-COVID.

Sharing his thoughts on the financial results, Naveen Kundu, Managing Director, EbixCash Travel Services, imposed confidence in EbixCash’s growth trajectory while emphasising its strong order book for 2025 and its leadership position in the travel and tourism sector.

With a robust order book for 2025, Ebix Travel is poised for continued growth, reinforcing its position as a market leader in the travel solutions sector.