Ixigo posts 13% rise in Q1 revenue, profit jumps 81% on bus business growth

Le Travenues Technology, the parent of online travel platform Ixigo, reported a 13% year-on-year rise in operating revenue for the June quarter, while net profit surged 81% on the back of strong growth in its bus business.

The Gurugram-based company reported revenue from operations of Rs 356.75 crore in the first quarter of FY27, up from Rs 316.05 crore a year earlier. Profit after tax rose to Rs 34.24 crore, compared with Rs 18.94 crore in the corresponding quarter last year, while gross transaction value (GTV) increased 19% on-year to Rs 5,524.33 crore.

"The external environment was not particularly cooperative. Yet against this backdrop, our diversified platform continued to grow, our scaled businesses remained profitable and we continued gaining share in all the categories we operate in," chairman, managing director and group chief executive (CEO) Aloke Bajpai said during the company's post-earnings call.


The company said geopolitical tensions arising from the Iran conflict, elevated airfares and airline capacity cuts weighed on the aviation sector during the quarter. Policy changes in the train ticketing ecosystem continued to impact online rail bookings.

Its bus business emerged as the strongest-performing vertical, with GTV rising 39% year-on-year to Rs 947.43 crore, while passenger segments increased 33%. The business contributed Rs 54.22 crore to the group's contribution margin.

"Our bus business is now our largest vertical by contribution margin and continues to grow substantially faster than the broader market," Bajpai said, attributing the growth to deeper supply expansion, product innovation and continued market share gains.

Meanwhile, the flight business continued to gain market share despite a difficult operating environment. Flight GTV increased 27% year-on-year to Rs 2,341.84 crore, while flight bookings rose 4%.

Bajpai said the company remained "cautious about aviation passenger growth in the near term" as capacity cuts by Air India and IndiGo are likely to keep pressure on the market until the festive season.

During the quarter, Ixigo crossed 500,000 room nights, expanded its direct hotel network to more than 10,000 properties across 700 towns, and completed the acquisition of a 54.66% stake in Brevistay, marking its presence in the flexible-stay accommodation segment.

While revenue and profit grew during the quarter, adjusted ebitda declined 7% year-on-year to Rs 29.24 crore, as the company increased investments in hotels and artificial intelligence.