ixigo Posts Strong Q2 FY26 Results with 37% Revenue Growth

Le Travenues Technology Limited, India’s leading AI-based travel platform, announces its financial results (standalone and consolidated) for the quarter ended September 30, 2025. The company continued its strong momentum in Q2 FY26, delivering rapid growth across verticals with strong GTV growth across buses (+51% YoY) & flights (29% YoY)  in Q2 FY26.

Revenue from operations rose by 37% YoY to Rs. 282.7 Cr, while Gross Transaction Value (GTV) increased by 23% YoY.  The company has achieved healthy growth in cashflow from operations with a 30% increase YoY, reaching Rs.91.5 Cr in H1 FY26 and a 36% growth YoY in Adjusted EBITDA at Rs 28.5 Cr in Q2 FY26. Profit Before Tax, Share of Loss of Associates and Exceptional items are at Rs. (2.5) Cr in Q2 FY26, which included a one-off ESOP expense of Rs. 26.9 Cr, and excluding the impact of this one-off was Rs. 24.4 Cr, an increase of 26% YoY.

Key Performance Highlights - Q2 FY26

• Gross Transaction Value (GTV) is at Rs.4347.5 Cr in Q2 FY26, growing by 23% YoY. Flight GTV grew 29% YoY, Bus GTV rose 51% YoY while Train GTV grew 12% YoY for Q2 FY26 vs Q2 FY25.
• Revenue From Operations grew by 37% YoY in Q2 FY26 to Rs.282.7 Cr from Rs.206.5 Cr in Q2 FY25. Flight Revenue grew 60% YoY in Q2 to Rs. 89.4 Cr while Bus Revenue grew 64% YoY in Q2 to Rs. 65.4 Cr.
• Contribution Margin (CM) increased by 20% YoY, reaching Rs.109.6 Cr in Q2 FY26.
• Adjusted EBITDA (EBITDA plus ESOP Expenses less Other Income) increased to Rs.28.5 Cr for Q2 FY26, an increase of 36% from Rs.21.0 Cr in Q2 FY25. 
• Profit Before Tax, Share of Loss of Associates and Exceptional items is at Rs. (2.5) Cr in Q2 FY26 which includes a one-off non-cash ESOP expense of Rs.26.9 Cr.

Management Comments

Rajnish Kumar, Group Co-CEO, ixigo and Aloke Bajpai, Group CEO, ixigo, 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. 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.”

Saurabh Devendra Singh, Group CFO, ixigo, 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.’ Quarters like these showcase the ixigo DNA and will form the foundation of our growth for years to come.”

Recent Highlights & Announcements

-          Partnered with DMRC and ONDC to introduce QR-based Delhi Metro ticketing on ixigo Trains & ConfirmTkt, offering in-app payments, allowing passengers to save time and enjoy a seamless travel experience.

-          AbhiBus strengthened its nationwide network of state transport partnerships by onboarding 7 new SRTCs - OSRTC, SBSTC, TSRTC, PRTC, KSRTC, SNT, and UTC. With this, AbhiBus now aggregates 17 major state transport corporations, offering millions of passengers affordable, reliable, and connected travel options across India.

-          Introduced AI Smart Filters for flights on desktop, allowing users to search and refine results using natural language inputs for a faster, more intuitive experience.

-          Introduced an enhanced Train Alternates feature that helps users find better travel options by suggesting trains from nearby stations, alternative dates, and partial journey combinations, supported by a refreshed UI/UX for a smoother and more seamless booking experience.

-          Enabled Aadhaar-based IRCTC authentication to simplify and speed up user logins and train bookings, recording over 10,000 successful verifications daily and enhancing both security and convenience for travellers.

-          Confirmtkt partnered exclusively with HDFC Bank to enable train ticket bookings on the HDFC SmartBuy platform, offering exciting cashback and reward benefits.