ixigo Q2 FY27 Results: GTV up 22% to ₹5,304 Cr, PAT rises to ₹63 Cr on Freshbus stake sale
Le Travenues Technology Limited (IXIGO) reported Q2 FY27 results with GTV up 22% YoY to ₹5,304 Cr and Revenue from Operations up 13% YoY to ₹320 Cr. PAT reached ₹63 Cr, boosted by a ₹40.7 Cr gain from selling its stake in Freshbus. The Hotels business GTV grew 39% QoQ to ₹111 Cr. Adjusted EBITDA declined 17% YoY to ₹23.58 Cr.
The results show significant year-on-year growth in key metrics like GTV and revenue, and an all-time high PAT. The detailed segment-wise performance, strategic focus on Hotels, and the impact of the Freshbus stake sale are material factors for investors.
The company reported strong year-on-year growth in GTV and Revenue, along with an all-time high PAT driven by operational performance and a one-time gain from asset sale. The strategic focus on expanding the Hotels business and continued investment in AI indicate a positive outlook.
Le Travenues Technology Limited (IXIGO) announced its unaudited financial results for the quarter and half-year ended September 30, 2026, on October 17, 2026.
The company reported a Gross Transaction Value (GTV) of ₹5,304.47 Crore for Q2 FY27, marking a 22% year-on-year growth from ₹4,347.50 Crore in Q2 FY26. Revenue from Operations increased by 13% YoY to ₹320.96 Crore from ₹284.23 Crore in the same period last year. Contribution Margin (CM) saw a 14% YoY increase, reaching ₹124.86 Crore in Q2 FY27, up from ₹109.58 Crore in Q2 FY26.
Adjusted EBITDA for Q2 FY27 stood at ₹23.58 Crore, a decrease of 17% YoY from ₹28.48 Crore in Q2 FY26. Profit before tax (PBT) was ₹33.53 Crore. The company achieved an all-time high Profit After Tax (PAT) of ₹63.42 Crore in Q2 FY27. This PAT figure includes an exceptional gain of ₹40.7 Crore from the sale of a stake in Freshbus, which also resulted in Freshbus ceasing to be an associate company.
Excluding exceptional items and share of losses from associates, and the one-off ESOP charge in Q2 FY26, the profit before tax (PBT) for Q2 FY27 was ₹33.5 Crore, a 37% increase compared to ₹24.4 Crore in Q2 FY26.
The company has also started reporting Hotels as a separate business segment, with Hotel GTV reaching ₹111 Crore in Q2 FY27, a 39% quarter-on-quarter growth and 2.6x year-on-year. Revenue from hotels grew over six times to ₹8.1 Crore, with a gross take rate exceeding 12%. Contribution margin for hotels was ₹(1.2) Crore.
The Trains segment saw GTV grow approximately 5% quarter-on-quarter and revenue increase approximately 1%, with Contribution Margin declining sequentially to ₹47.2 Cr due to a push for growth. Year-on-year, train revenue increased 16% to ₹149.1 Cr, and Contribution Margin grew 29% to ₹47.2 Cr.
The Bus segment demonstrated strong performance with passenger segments growing 28% YoY to 7.7 Mn and GTV growing 32% to ₹753 Crore. Revenue rose 24% to ₹81.0 Crore and contribution margin rose 27% to ₹43.1 Crore, maintaining margins above 50%.
Flight segments experienced a sequential decline of about 10% due to capacity cuts and high fares, but grew 8% year-on-year. The company gained market share in this challenging environment. International flight GTV grew 59% year-on-year, driven by Southeast Asia routes.
Investments in technology and AI continue, with technology spend at ₹14.3 Crore for the quarter. The company highlighted that AI is already showing efficiency by absorbing scaled work, allowing for investment in new business lines like Hotels and ixigo NEXT.
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