ixigo Reports Growth in Revenue Despite Loss in FY26

ixigo, a prominent online travel platform under Le Travenues Technology Ltd, has demonstrated remarkable year-on-year revenue growth during the second quarter of FY26. However, rising expenses have led to a minor loss for the period.

Revenue Growth in Q2 FY26

The company’s revenue from operations surged by 37% year-on-year, reaching Rs 283 crore in Q2 FY26 compared to Rs 206.5 crore in the same quarter the previous year, as per its consolidated financial statements filed with stock exchanges. Additionally, total income increased to Rs 288 crore from Rs 211 crore a year prior.

Key Revenue Contributions

Based in Gurugram, ixigo obtained the majority (43%) of its operating revenue from train ticketing, which rose to Rs 123 crore in Q2 FY26 from Rs 110 crore in Q2 FY25. Revenue from flight and bus booking services contributed 31% and 23%, respectively.

Expense Analysis

ixigo’s total expenses increased significantly by 52% year-on-year, reaching Rs 290.4 crore in Q2 FY26 compared to Rs 191.5 crore in Q2 FY25. This included employee benefit costs of Rs 74.2 crore, up from Rs 38.7 crore, alongside other expenses rising to Rs 212.3 crore from Rs 149.9 crore.

Financial Performance Overview

Consequently, the company reported a pre-tax loss of Rs 4 crore for the quarter, contrasting with a profit of Rs 18.3 crore in Q2 FY25. Its net loss was recorded at Rs 3.5 crore, compared to a profit of Rs 13.1 crore in the same quarter a year earlier.

First Half Performance of FY26

For the first half of FY26, ixigo reported revenue of Rs 597.2 crore, up 54% from Rs 388.3 crore in H1 FY25. Nevertheless, net profit decreased to Rs 15.5 crore from Rs 27.9 crore in the corresponding prior period, primarily due to escalated operating costs.

Asset Status and Investor Engagement

As of September 30, 2025, the company’s total assets amounted to Rs 989 crore, which included cash and cash equivalents of Rs 138.8 crore. During the quarter, ixigo also established a share subscription agreement with MIH Investments One B.V. for the intended preferential allotment of up to 4.63 crore equity shares priced at Rs 280 each, totalling Rs 1,295.5 crore, pending shareholder approval.

Market Capitalization Update

At the end of trading on Wednesday, ixigo’s shares were valued at Rs 325, which gives the online travel aggregator a market capitalisation of Rs 12,686 crore.