IntrCity Revenues Surge 6x Pre-COVID, Reaching INR 290 Crores, as Consumers Embrace SmartBus Brand Nationwide
IntrCity, India's leading intercity mobility platform, and parent brand for IntrCity SmartBus and RailYatri, has announced a remarkable 573% increase in pre-COVID revenues for the fiscal year 2022-2023, accompanied by a similar improvement in operating margins.
The company's outstanding financial performance reflects the growing demand for its services and highlights its position as a dominant player in the intercity travel market.
With an extensive network covering 14 states, IntrCity is poised for continued growth and success in the rapidly evolving inter-city travel landscape. Operating at a capacity of 1.2 billion passenger-kilometres, IntrCity SmartBus achieved an impressive average occupancy rate of 91%.
The booking ratio underscores the loyalty of customers, with 50% of daily sales coming from repeat travellers. Furthermore, one-third of bookings are made directly through IntrCity's dedicated mobile application and website, showcasing the convenience and user-friendly experience provided by their digital platforms. These statistics emphasise IntrCity's ability to attract and retain customers while leveraging technology to streamline the booking process and enhance customer satisfaction.
Notably, the company is set to clock its first full year of profitability in FY23-24, after closing last year at -5% EBITDA. This significant achievement further solidifies IntrCity's financial outlook and highlights its commitment to sustainable growth and success.
"Our unwavering belief in the necessity for safe, reliable, and affordable shared road mobility has been exceptionally reinforced. We are sincerely grateful for the overwhelming response from consumers and remain committed to becoming the preferred choice for travellers throughout India," stated Mr. Manish Rathi, Co-founder, IntrCity
“Given the government's significant investments in road network upgrades, we anticipate bus travel to dominate the inter-city mobility landscape. We perceive substantial growth opportunities on both established and emerging routes.” He added.
The company has built its brand around technology, reliability, and consumer conveniences like in-bus washrooms, comfortable boarding lounges, and trained bus captains.
IntrCity SmartBus takes pride in introducing industry-first features to further improve the travel experience. For instance, passengers can now reschedule their journeys, offering flexibility and convenience. The company has also implemented a pre-order food service at pit-stops, ensuring faster service and allowing customers to choose from a consistent menu with prices while providing them with the added benefit of rating and reviewing the pit stops.
