Le Travenues Technology Ltd.ixigo: GTV up 22%, hotels reach scale, EBITDA down 17% on investment

ixigo's Q2 FY27 call, held on 19 October 2026, reported gross transaction value of ₹5,304 crore, up 22%, and revenue of ₹321 crore, up 13%, with contribution margin of ₹124.86 crore, up 14%.

Adjusted EBITDA fell 17% to ₹23.58 crore as the company stepped up hotel investment, while reported profit after tax of ₹63.42 crore, an all-time high, included a ₹40.66 crore one-off gain from selling part of its Freshbus stake. Buses grew GTV 32% and trains recovered, with revenue up 16%, but flights were weak: GTV rose 37% on higher fares while revenue fell 8% and take rate dropped from 9.4% to 7%. Hotels were reported as a segment for the first time, with GTV up 2.6 times to ₹111 crore, 4.7 lakh room nights and a gross take rate above 12%.

Management expects to keep investing ₹10 crore to ₹12 crore a quarter in hotels, aims for hotels to be a top-two GTV line in four to five years, and remains cautious on flights. AI now resolves 94% of chat queries, and AI platforms still send only low single-digit traffic.