Ixigo shares rise up to 15% as company swings to profit in Q2

Shares of Le Travenues Technology, which operates the online travel booking platform ixigo, rose as much as 15% to Rs 165.99 apiece on October 19 as the company swung to net profit in the September quarter from a net loss a year ago. The profit was aided by a one-time gain and a rise in other income. Its revenue for the quarter rose 13% on year. Le Travenues reported a consolidated net profit of Rs 61.2 crore for Jul-September quarter against a net loss of Rs 3.2 crore a year ago. Revenue from operations rose 13% on year to Rs 321 crore. Sequentially, net profit rose 89%, while revenues were down 10%. The company's other income rose to Rs 22 crore from Rs 5.1 crore a year ago. Le Travenues sold 46,264 compulsorily convertible preference shares of Freshbus, reducing its stake in the company to 8.27% from 25.7% earlier. Since Freshbus is no longer an associate company, Le Travenues recognised a gain of Rs 41 crore under exceptional items. Total expenditure, including finance costs, was at Rs 310 crore compared with Rs 292 crore a year ago. Finance costs rose to Rs 64 lakh against Rs 61 lakh. The company's tax outgo for the September quarter was Rs 8.2 crore as against a tax write-back of Rs 50 lakh a year ago. At 2 pm on October 19, ixigo shares were trading 9% higher at Rs 157.26 apiece. Hotels emerged as ixigo's fastest-growing business line by gross transaction value (GTV), reaching Rs 111.34 crore, up 159 per cent YoY, ixigo stated. This is the first time ixigo has reported hotels as a separate line of business. During the second quarter of 2026-27, ixigo's revenue from operations increased to Rs 320.96 crore from Rs 284.23 crore a year ago. Total expenses were higher at Rs 309.51 crore as against Rs 291.89 crore. "In Q2 FY27, we delivered resilient growth with quarterly gross transaction value (GTV) of Rs 5,304 crore, up 22 per cent YoY, and revenue from operations of Rs 321 crore, up 13 per cent YoY. Our PAT (profit after tax) was an all-time high aided by our partial sale of stake in Freshbus," ixigo Group CEO Aloke Bajpai, Group Co-CEO Rajnish Kumar, and Group CFO Saurabh Devendra Singh said in a joint statement. "We continue to invest in Hotels and AI as key drivers of our long-term growth," they further stated.