ixigo Q1 Profit Jumps 81% to Rs 34 Crore – But Buses, Not Flights, Are the Real Star

In a quarter when flying got costlier and train bookings threw up fresh challenges, ixigo has managed to land on its feet – and then some. The Noida-based travel platform’s parent, Le Travenues Technology, posted a consolidated net profit of Rs 34.24 crore for the April-June quarter of FY27 – an 81% jump from Rs 18.94 crore a year ago.

Revenue from operations grew 13% to Rs 356.75 crore, while gross transaction value (GTV) climbed 19% to Rs 5,524.33 crore.

The backdrop wasn’t easy. Chairman and group CEO Aloke Bajpai candidly described the external environment as “not particularly cooperative.” Geopolitical tensions around the Iran conflict, higher airfares and capacity cuts by airlines such as Air India and IndiGo hit aviation demand. Changes in the train-ticketing system – including those around Tatkal and waitlisted tickets – also weighed on rail volumes.

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Yet trains remained the company’s biggest revenue engine at Rs 141.04 crore, followed by flights at Rs 104.56 crore. The real surprise was buses: GTV jumped 39% to Rs 947.43 crore, passenger segments rose 33%, and the bus vertical clocked a contribution margin of Rs 54.22 crore – its largest by margin.

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Flights grew GTV 27% to Rs 2,341.84 crore, though passenger growth stayed muted at 4%. ixigo said it remains cautious on near-term aviation growth, with a more meaningful improvement expected around the festive season.

Hotels are another growth bet – the platform recorded 0.5 million “heads on beds” and built a direct supply network of over 10,000 hotels across nearly 700 towns. It also completed acquiring a 54.66% stake in flexible-stay startup Brevistay in early July.

Adjusted EBITDA slipped 7% to Rs 29.24 crore as ixigo continues investing in hotels and AI. On a sequential basis, PAT rose about 7% from Rs 32.05 crore in the March quarter.

The message for Indian travellers? Travel demand is resilient – and right now, the smart money is riding the bus.