IXIGO shares surged 6.14% today, trading at ₹145.98 compared to the previous close of ₹138.12, after opening at ₹139.95. The stock touched a high of ₹147.31 and low of ₹138, with an absolute move of ₹6.34. The positive market response comes following the company's exceptional Q2FY27 performance, where it achieved a historic milestone with consolidated net profit of ₹63.42 crore, marking an all-time high compared to a net loss of ₹3.46 crore in the corresponding quarter last year. The stock's market capitalisation remained at ₹6,371.90 crore during today's trading session, with the 52-week high at ₹339.15 and 52-week low at ₹136.35.
Le Travenues Technology, the parent company of online travel platform Ixigo, achieved a historic milestone with consolidated net profit of ₹63.42 crore in Q2FY27, marking an all-time high compared to a net loss of ₹3.46 crore in the corresponding quarter last year. According to latest reports, this turnaround was primarily driven by an exceptional gain of ₹40.66 crore from the partial sale of its stake in Freshbus Private Limited, which ceased to be an associate in August 2026. Excluding this non-recurring item and ESOP expenses, profit before tax stood at ₹31.04 crore, compared with a loss of ₹3.96 crore in the year-ago quarter. The company's P/E ratio stands at 71.33x and P/B ratio at 3.03x, reflecting the market's assessment of the strong quarterly performance. As of October 16, 2026, the P/E ratio stands at 58.92x and P/B ratio at 46.62x.
The Hotels segment emerged as ixigo's fastest-growing business line by gross transaction value (GTV), reaching ₹111.34 crore, up 159% YoY, marking the first time ixigo has reported hotels as a separate line of business. According to group chief executive Aloke Bajpai, the hotels business has hit a 'critical mass' with Gross Bookings Value (GBV) crossing ₹100 crores, a 159% year-on-year growth. Revenue grew more than 500% (over 6x growth year-on-year) with the take rate at the highest across the business at 12% plus, which is growing year-on-year. Notably, 86% of this growth comes from the company's own captive user base—people who book transportation like trains, buses, and flights. This exceptional growth was a key driver of the company's overall financial turnaround, with the segment showing remarkable operational performance.
Among business segments, train revenue increased to ₹149.14 crore in Q2FY27 from ₹128.11 crore a year earlier, while bus revenue rose to ₹81.04 crore from ₹65.44 crore. However, flight revenue declined to ₹82.66 crore from ₹89.39 crore in the previous year. The Hotels segment showed remarkable growth of 527.9% to ₹8.10 crore from ₹1.29 crore, though it continues to post operational losses. The segment figures show that trains and buses contributed to revenue growth during the quarter, while flight revenue declined year-on-year. The Train segment remained the largest contributor to revenue, followed closely by Flight and Bus segments, reflecting the company's strategic focus on growing higher-margin transportation services. In the Travel Services industry, IXIGO is being compared with peers such as IRCTC, TBO Tek and Thomas Cook (India).
The company's financial position strengthened considerably during the half-year period, with cash and cash equivalents rising to ₹640.53 crore as of September 30, 2026, up from ₹344.49 crore in March 2026. This increase was supported by strong operating cash flows and proceeds from investing activities. The Board also approved the allotment of 173,780 fully paid-up equity shares upon exercise of stock options under various Employee Stock Option Schemes, with the paid-up share capital increasing marginally to ₹441,258,930. Additionally, PricewaterhouseCoopers Services LLP was re-appointed as Internal Auditors for the financial year ending March 31, 2027. Management stated that they continue to invest in Hotels and AI as key drivers of long-term growth, indicating strategic focus on these high-potential segments.
For the first half of FY27, revenue from operations increased to ₹677.71 crore from ₹600.28 crore in the year-ago period, while consolidated net profit rose to ₹97.66 crore from ₹15.48 crore. Despite the strong quarterly performance, the company's Adjusted EBITDA declined 17% YoY, raising questions about monetization strategies for the strengthened cash position. The stock has shown mixed performance with 4.59% gains in one day but remains down 17.78% over the past year. Management faces challenges in reversing the 7.5% YoY revenue decline in the Flight segment despite strong GTV growth, while the Hotels segment continues to require strategic focus on achieving operational profitability. With the current P/E ratio of 71.33x, the stock trades at a premium valuation reflecting investor confidence in the company's growth trajectory, though investors will watch whether the company can maintain revenue growth while improving its operating margin in coming quarters.
