Le Travenues Technology (IXIGO)

Le Travenues Technology (ixigo) reported revenue from operations of INR 282.7 crores for Q2 FY26, marking 37% year-on-year growth despite challenging market conditions. The company achieved GTV growth of 23% to INR 4,347.5 crores and maintained adjusted EBITDA margin at 10% with INR 28.5 crores. The flights segment delivered strong performance with 60% revenue growth and 29% GTV increase, even as the domestic aviation market contracted by 2%. Bus business showed robust growth with 51% GTV increase to INR 571.9 crores and 46% growth in passenger segments. The trains segment faced ecosystem-related adjustments due to Indian Railways policy changes including reduced advance booking windows and Aadhaar authentication requirements, resulting in slower growth. The company announced a fundraise of approximately INR 1,296 crores through preferential issuance to MIH Investments One B.V. (Prosus) to strengthen balance sheet and accelerate AI-led growth initiatives. Cash flow for H1 FY26 stood at INR 91.5 crores. PAT was negative at INR 3.5 crores primarily due to a one-time non-cash ESOP charge of INR 26.9 crores related to early achievement of performance milestones.

Le Travenues Technology Limited held an Extraordinary General Meeting on November 1, 2025, where shareholders approved three special resolutions through electronic voting. The first resolution approved the offer, issuance and allotment of equity shares on a private placement/preferential basis, receiving 99.16% votes in favor. The second resolution approved amendments to the Articles of Association and grant of special rights to an identified shareholder pursuant to SEBI Listing Regulations, also receiving 99.16% approval. The third resolution approved amendments to the Articles of Association by deletion of references to Part A and Part B in Section I-Applicability of Table F, receiving 99.43% votes in favor. All resolutions were conducted through remote e-voting and e-voting during the meeting, with scrutinizer Suryakant Gupta overseeing the voting process. The company trades on NSE under symbol IXIGO and BSE under scrip code 544192.

Le Travenues Technology shares fell 19.3% to Rs 262 after reporting a net loss of Rs 3.4 crore compared to a Rs 13 crore profit in the same quarter last year. The loss included a one-off ESOP expense of Rs 26.9 crore, and excluding this impact, profit before tax increased 26% year-on-year to Rs 24.4 crore. Revenue from operations grew 37% to Rs 283 crore, with flight revenue up 60% to Rs 89.4 crore and bus revenue rising 64% to Rs 65.4 crore. Gross transaction value increased 23% to Rs 4,347.5 crore, driven by growth across flight, bus, and train segments. Adjusted EBITDA rose 36% to Rs 28.5 crore. Prosus recently invested Rs 1,295 crore for a 10% stake at Rs 280 per share.