ixigo shares jumped as much as 15% to ₹165.99 on October 19 after its parent company, Le Travenues Technology, reported a sharp turnaround in its September quarter earnings. The online travel booking platform posted a net profit against a loss a year earlier. Revenue from operations also grew 13% year over year (YoY).
Le Travenues reported a consolidated net profit of ₹61.2 crore for the July-September quarter of FY27, compared with a net loss of ₹3.2 crore in the corresponding period last year. The profit was supported by a one-time gain from the partial sale of its stake in Freshbus and an increase in other income.
At 2 p.m. on October 19, ixigo shares were trading 9% higher at ₹157.26 apiece.
Key Highlights
- Net profit reached ₹61.2 crore, compared with a loss of ₹3.2 crore a year earlier.
- Revenue from operations rose 13% YoY to ₹321 crore.
- Hotel gross transaction value surged 159% YoY to ₹111.34 crore.
Freshbus Stake Sale Supports Quarterly Profit
Le Travenues' quarterly profit received a significant boost from a ₹41 crore exceptional gain linked to Freshbus.
The company sold 46,264 compulsorily convertible preference shares of Freshbus, reducing its stake from 25.7% to 8.27%. Following the transaction, Freshbus ceased to be an associate company of Le Travenues. The company then recognized a gain of ₹41 crore under exceptional items.
Other income also increased to ₹22 crore from ₹5.1 crore in the year-ago quarter, further supporting profitability.
Total expenditure, including finance costs, stood at ₹310 crore, compared with ₹292 crore a year earlier. Finance costs rose to ₹64 lakh from ₹61 lakh. The company's tax outgo was ₹8.2 crore, against a tax write-back of ₹50 lakh in the corresponding quarter last year.
On a sequential basis, net profit increased 89%, while revenue declined 10% from the June quarter.
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Hotels Business Records 159% Growth
Hotels emerged as ixigo's fastest-growing business line by gross transaction value (GTV), reaching ₹111.34 crore in the September quarter. This marked 159% growth year over year. The company reported hotels as a separate business line for the first time.
Revenue from operations increased to ₹320.96 crore from ₹284.23 crore in the year-ago quarter. Total expenses rose to ₹309.51 crore from ₹291.89 crore.
The company's quarterly GTV reached ₹5,304 crore, up 22% YoY. In a joint statement, Group CEO Aloke Bajpai, Group Co-CEO Rajnish Kumar, and Group CFO Saurabh Devendra Singh said the company delivered resilient growth during the quarter. They also described profit after tax (PAT) as an all-time high, supported by the partial sale of its Freshbus stake.
The management added that ixigo would continue investing in hotels and artificial intelligence (AI) to support long-term growth.
The latest results highlight revenue growth and rising transaction value, although the reported profit also benefited from a one-time gain. Investors will be watching how the hotel business and AI investments contribute to future performance.
