Le Travenues Technology (IXIGO) , India's leading AI-based travel platform, has announced robust financial results for Q2 FY26, demonstrating resilient growth across its business segments despite facing some capacity headwinds in the travel market.

Key Financial Highlights

• Gross Transaction Value (GTV) reached ₹4,347.50 crore, growing 23% year-over-year (YoY)
• Revenue from operations increased by 37% YoY to ₹282.70 crore
• Adjusted EBITDA rose 36% YoY to ₹28.50 crore
• H1 FY26 cash flow from operations grew 30% YoY to ₹91.50 crore

Segment Performance

ixigo reported strong growth across its key business segments:

The company's flight segment revenue reached ₹89.40 crore, while bus segment revenue grew to ₹65.40 crore in Q2 FY26.

Financial Position and Profitability

The company's contribution margin increased by 20% YoY to ₹109.60 crore. Profit Before Tax, excluding share of loss of associates and exceptional items, stood at ₹(2.50) crore for Q2 FY26. However, this figure includes a one-off non-cash ESOP expense of ₹26.90 crore. Excluding this one-time expense, the adjusted profit before tax would be ₹24.40 crore, representing a 26% YoY increase.

Management Commentary

Aloke Bajpai, Group CEO of ixigo, commented on the results: "Despite Q2 facing some capacity headwinds, ixigo continued its resilient momentum and grew faster than the overall market YoY in all lines of business, with buses and flights leading the growth and trains maintaining our OTA market leadership."

Recent Developments

ixigo has made several strategic moves to enhance its service offerings:

1. Partnered with DMRC and ONDC to introduce QR-based Delhi Metro ticketing on ixigo Trains & ConfirmTkt apps.
2. Expanded bus network by onboarding 7 new State Road Transport Corporations (SRTCs), now aggregating 17 major state transport corporations.
3. Introduced AI Smart Filters for flights on desktop, improving user experience.
4. Enhanced Train Alternates feature with improved suggestions for travel options.
5. Implemented Aadhaar-based IRCTC authentication, processing over 10,000 verifications daily.

Market Position and Future Outlook

ixigo's strong performance across segments, particularly in flights and buses, indicates its ability to capture market share and adapt to changing market conditions. The company's focus on AI-driven innovations and strategic partnerships positions it well for continued growth in the Indian travel market.

The recent announcement of a proposed preferential allotment of up to 46,270,092 equity shares at ₹280.00 per share to MIH Investments One B.V., aggregating to ₹1,295.56 crore, subject to shareholder approval, is expected to further strengthen ixigo's balance sheet and support its long-term growth strategies.

As the travel industry continues to recover and evolve, ixigo's multi-modal approach and focus on next billion users appear to be paying off, setting the stage for potential further expansion and market leadership in the coming quarters.

Le Travenues Technology (IXIGO) , India's leading AI-based travel platform, has reported robust growth for the second quarter, outpacing market growth across its key business segments. The company's strategic focus on AI-driven travel technology and expansion into Tier-II markets is positioning it for long-term growth and improved profitability.

Financial Highlights

For Q2, ixigo reported:

• Gross Transaction Value (GTV) of ₹4,347.50 crore, up 23% year-over-year (YoY)
• Revenue from Operations of ₹282.70 crore, a 37% increase YoY
• Adjusted EBITDA of ₹28.50 crore, growing 36% YoY

The company's performance was particularly strong in its flight and bus segments:

Strategic Focus on AI and Market Expansion

ixigo is leveraging artificial intelligence to enhance its travel technology offerings and expand into Tier-II markets. This strategy aims to strengthen the company's profitability outlook through several key initiatives:

1. AI-Driven Innovation: The company has introduced AI Smart Filters for flights on desktop, allowing users to search and refine results using natural language inputs.

2. Expansion of Bus Services: ixigo's subsidiary, AbhiBus, has strengthened its nationwide network by onboarding seven new State Road Transport Corporations (SRTCs), bringing the total to 17 major state transport corporations.

3. Enhanced Train Booking Experience: The company has introduced an improved Train Alternates feature, offering users more options for their journeys.

4. Metro Ticketing Integration: In partnership with Delhi Metro Rail Corporation (DMRC) and Open Network for Digital Commerce (ONDC), ixigo has launched QR-based Delhi Metro ticketing on its ixigo Trains & ConfirmTkt apps.

5. Strategic Partnerships: ConfirmTkt, another ixigo subsidiary, has partnered exclusively with HDFC Bank to enable train ticket bookings on the HDFC SmartBuy platform.

Management Commentary

Aloke Bajpai, Group CEO of ixigo, commented: "Despite Q2 facing some capacity headwinds, ixigo continued its resilient momentum and grew faster than the overall market YoY in all lines of business, with buses and flights leading the growth and trains maintaining our OTA market leadership."

Rajnish Kumar, Group Co-CEO, added: "The fundraise provides the balance sheet required to fulfil our long-term aspiration of delivering the best AI-first customer experience for travel and fuels our expansion into new categories and markets."

Future Outlook

ixigo's focus on AI-driven solutions and expansion into Tier-II markets positions the company for continued growth. The development of margin-rich ancillary revenue streams, coupled with strategic market expansion, is expected to enhance the company's profitability in the coming quarters.

As the travel industry continues to evolve, ixigo's investment in AI technology and its focus on underserved markets could provide a significant competitive advantage, potentially leading to sustained growth and improved market position in the Indian online travel sector.