News Earnings ixigo Achieves Record Q3 FY26 Performance with 31% Revenue Growth Despite Aviation Sector Challengesixigo Achieves Record Q3 FY26 Performance with 31% Revenue Growth Despite Aviation Sector Challenges
Le Travenues Technology (ixigo) reported outstanding Q3 FY26 results with record revenue of INR317.6 crores (+31% YoY) and GTV of INR4,902.9 crores (+21% YoY), while PAT surged 54% to INR24.00 crores. Despite December flight disruptions affecting 4,500 flights, the company's AI-powered customer support handled 150,000+ calls with 90% AI resolution, maintaining exceptional service standards. The diversified platform showed strength across segments with flights GTV growing 22%, international flights crossing 20% share, and buses continuing 40-50% growth trajectory from the Abhibus acquisition.
*this image is generated using AI for illustrative purposes only.
Le Travenues Technology (ixigo) delivered exceptional Q3 FY26 results, demonstrating remarkable resilience and growth despite significant challenges in the aviation sector. The travel technology company reported record financial performance while successfully navigating one of the most disruptive periods for the flight industry.
Record Financial Performance
The company achieved all-time high financial metrics across key parameters during the quarter ended December 31, 2025:
| Metric | Q3 FY26 | Q3 FY25 | Growth (%) |
|---|---|---|---|
| Revenue from Operations | INR317.6 crores | INR242.6 crores | +31% |
| Gross Transaction Value | INR4,902.9 crores | INR4,036.3 crores | +21% |
| Profit After Tax | INR24.00 crores | INR15.50 crores | +54% |
| Adjusted EBITDA | INR30.8 crores | INR24.3 crores | +27% |
| Contribution Margin | INR115.3 crores | INR103.0 crores | +12% |
Crisis Management Excellence
December 2025 presented unprecedented challenges when a leading airline faced operational disruptions following revised FDTL norms implementation by DGCA. The crisis involved approximately 4,500 flight cancellations and reschedules over 12 days, with peak impact between December 3rd and 8th. Customer reach-outs surged two-fold, while flight tracking product usage increased five-fold during this period.
Ixigo's response demonstrated its customer-first philosophy through proactive measures including full ticket refunds plus convenience fees and ixigo Assured fees for impacted bookings. The company established a dedicated cross-functional war room to manage the evolving situation daily.
AI-Powered Customer Support
The company's AI customer experience stack proved crucial during the crisis, with remarkable performance metrics:
| Support Metric | Performance |
|---|---|
| AI Call Resolution Rate | 90% in December |
| Total AI-Handled Calls | 150,000+ during crisis |
| Calls Answered Within 2 Minutes | 96.7% |
| Average Refund Time | 3 hours 10 minutes |
| Overall AI Voice Call Handling | 76%+ in Q3 |
TARA, the company's AI agent, played a central role in assisting customers with refund processes and recommending alternate travel options, while AI-augmented human support teams operated extended hours during peak disruption periods.
Business Segment Performance
Flights Business
Despite sector challenges, the flights segment delivered strong growth:
| Flight Metrics | Q3 FY26 | Q3 FY25 | Growth (%) |
|---|---|---|---|
| Flight Segments Booked | 2.8 million | 2.4 million | +15.2% |
| GTV | INR2,055 crores | INR1,684 crores | +22% |
| Revenue | INR102.4 crores | INR68.7 crores | +49% |
| Contribution Margin | INR39.4 crores | INR27.2 crores | +45% |
International flights showed exceptional momentum, growing over 50% year-on-year and crossing 20% of overall flights GTV. The company strengthened supply partnerships with GDS relationships across Amadeus and Travelport, plus 26 airlines on NDC pipes including Middle Eastern, Southeast Asian, and European carriers.
Trains Business
The trains segment maintained steady growth while representing a smaller mix due to faster growth in other verticals:
| Train Metrics | Q3 FY26 | Q3 FY25 | Growth (%) |
|---|---|---|---|
| Train Segments Booked | 26.12 million | 24.00 million | +8.8% |
| GTV | INR2,095.5 crores | INR1,822 crores | +15% |
| Revenue | INR134.1 crores | INR119.7 crores | +12% |
| Contribution Margin | INR40.6 crores | INR39.8 crores | +2% |
Buses Business
The bus segment continued as a strong growth engine, scaling significantly since the Abhibus acquisition:
| Bus Metrics | Q3 FY26 | Q3 FY25 | Growth (%) |
|---|---|---|---|
| Passenger Segments | 6.73 million | 5.06 million | +33% |
| GTV | INR671 crores | INR493 crores | +36% |
| Revenue | INR75.6 crores | INR51.4 crores | +47% |
| Contribution Margin | INR34.0 crores | INR34.3 crores | -1% |
The business has grown from INR400-500 crores annual GTV pre-acquisition to over INR2,400 crores in the last 12 months, representing nearly 6x growth while maintaining 40-50% year-on-year compound growth.
Strategic Investments and Future Outlook
The company established a Singapore subsidiary to facilitate overseas investments, focusing on AI-adjacent opportunities and travel technology synergies. An Investment Committee comprising board members with expertise from Peak XV and GSF India will evaluate strategic opportunities.
Management highlighted potential base effects in Q4 FY26 due to the Mahakumbh impact in the previous year, which contributed mid to high single-digit GTV across transportation modes. However, spiritual tourism remains a strong secular trend with growing Gen Z participation.
One-time Impacts
The quarter included several one-time impacts totaling approximately INR2.00 crores adverse effect on EBITDA from December flight disruptions, INR2.90 crores share of loss from Fresh Bus, and INR2.80 crores impact from new labour code implementation.
Historical Stock Returns for Le Travenues Technology (IXIGO)
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -4.86% | -14.10% | -20.03% | -6.55% | +63.88% | +11.25% |
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