Ixigo Navigates Losses with Strong Revenue Growth in Travel Sector
Ixigo, a travel tech platform, reported a loss of Rs 3.46 crore in Q2, despite a 37% revenue increase to Rs 282.7 crore, driven by strong growth in flight and bus segments. Exceptional ESOP expenses impacted profits, but the company remains optimistic about future expansion.
- Country:
- India
Travel tech platform Ixigo, operated by Le Travenues Technology Limited, reported a consolidated loss of Rs 3.46 crore for the September quarter, contrasting with a net profit of Rs 13.1 crore recorded in the same period last year, according to a regulatory filing released on Wednesday.
A significant factor contributing to the loss was a one-off ESOP expense of Rs 26.7 crore during the quarter, which affected the company's profit before tax, share of loss of associates, and exceptional items, tallying at Rs 2.5 crore in Q2 FY26.
Despite the financial setbacks, Ixigo's revenue from operations surged by 37% year-on-year, reaching Rs 282.7 crore. The company witnessed significant growth in its flight and bus segments, with revenues rising by 60% and 64%, respectively. However, total expenses also increased to Rs 290.4 crore from Rs 191.47 crore last year. Co-CEOs Rajnish Kumar and Aloke Bajpai expressed confidence, stating that the fundraise would support the company's long-term goals and expansion into new markets.
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