Le Travenues Technology (IXIGO) , India's leading AI-based travel platform, has reported rapid growth in its quarterly results with significant increases in Gross Transaction Value (GTV). The company's bus segment grew 51% year-over-year while the flights segment increased 29% year-over-year.

Key Financial Highlights

• Revenue from Operations: ₹282.70 crore, up 37% year-over-year (YoY)
• Gross Transaction Value (GTV): ₹4,347.50 crore, increased 23% YoY
• Adjusted EBITDA: ₹28.50 crore, grew 36% YoY
• Net Loss: ₹32.00 million, compared to a profit of ₹131.00 million in the previous year's corresponding quarter

Segment Performance

Le Travenues Technology reported robust growth across its key business segments:

Financial Analysis

Despite the impressive top-line growth, Le Travenues Technology faced challenges in profitability. The company's EBITDA turned negative with a loss of ₹38.00 million, contrasting with a gain of ₹180.00 million in the same quarter last year. This shift indicates increased operational costs and investments, potentially in growth initiatives or market expansion.

Management Commentary

Rajnish Kumar and Aloke Bajpai, Group Co-CEO and Group CEO of ixigo, respectively, stated: "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."

Saurabh Devendra Singh, Group CFO, added: "It was not an easy quarter, and yet we continued to grow profitably. This was a result of customer empathy, product innovation, agility, and in some cases, 'old-fashioned persistence.'"

Recent Developments

The company has made several strategic moves to enhance its offerings and market position:

1. Partnered with DMRC and ONDC to introduce QR-based Delhi Metro ticketing on ixigo Trains & ConfirmTkt apps.
2. AbhiBus expanded its 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, enhancing user experience.
4. Enhanced the Train Alternates feature with improved options for nearby stations, alternative dates, and partial journey combinations.
5. Implemented Aadhaar-based IRCTC authentication, recording over 10,000 successful verifications daily.

Looking Ahead

While Le Travenues Technology faces short-term profitability challenges, its strong revenue growth and market outperformance in key segments suggest a focus on expansion and market share gains. The management's emphasis on customer-centric innovation and strategic partnerships indicates a long-term approach to building a robust travel technology platform.

Investors and stakeholders will likely be watching closely to see how the company balances its growth initiatives with the need to return to profitability in the coming quarters.

Le Travenues Technology (IXIGO) , a prominent player in the Indian travel technology sector, has seen a significant change in its ownership structure as Peak XV Partners Investments V reduced its stake through a substantial off-market transaction.

Transaction Details

On October 10, 2025, Peak XV Partners Investments V executed an off-market sale of 13 million equity shares of Le Travenues Technology Limited. This transaction has resulted in a notable change in Peak XV's ownership position within the company.

The shares were sold at a face value of Re.1 each, representing 3.33% of Le Travenues Technology's total voting capital.

Impact on Ownership Structure

This sale marks a significant reduction in Peak XV's ownership, moving from a 10.04% stake to 6.71% of the total share capital. It's important to note that Peak XV Partners Investments V is not part of the promoter group of Le Travenues Technology.

Company Overview

Le Travenues Technology operates under the brand name ixigo, a popular travel platform. The company's shares are traded on both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE).

Capital Structure

Despite this large transaction, the total equity share capital of Le Travenues Technology remains unchanged at 390,291,963 shares. This suggests that the sale has not triggered any changes in the company's overall capital structure.

Market Implications

Such significant changes in ownership by major shareholders often attract investor attention. Market participants may closely monitor any potential impacts on the company's strategic direction or governance in the wake of this ownership shift.

Investors and market analysts will likely keep a close eye on any further developments or disclosures from either Peak XV Partners or Le Travenues Technology in the coming days.