Ixigo acquires train food delivery startup, MakeMyTrip’s net profit up 9 times | The Arc Pulse
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Ixigo acquires train food delivery startup, revenues up 26%
Online travel platform Ixigo has acquired a 51% stake in Zoop Web Services, a train food delivery platform, for Rs 12.54 crore. The acquisition will involve a mix of secondary and primary share purchases and pit Zoop Web Services against similar services offered by food delivery giants like Zomato and Swiggy.?
In addition to acquiring a majority stake in 8-year-old Zoop, Ixigo has secured an option to purchase the remaining 49% stake. This is Ixigo's third major acquisition. In early 2021, it acquired a 100% stake in the train booking app Confirmtkt and took over the bus aggregator platform AbhiBus in August of the same year.
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MakeMyTrip’s net profit up 9 times to $18 mn in September quarter
Online travel company MakeMyTrip posted operating revenues of $210 million for July-September, the second quarter of FY25. This is a 25% jump compared to the same quarter last year. The company reported a 9x increase in profit to $18 million compared to a profit of $2 million in the same quarter last year.
Air ticketing accounted for about 30% of the revenue, amounting to $61 million. According to the statement, this was due to an increase in travel demand.
While hotels and bookings contributed almost half the revenue, $103 million, Revenue from the bus ticketing business increased by 25.4% to $24.8 million from $19.8 million in the same quarter FY23.
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