ixigo hits all-time high on strong Q1; travel stock soars 75% in three months

Shares of Le Travenues Tech, the parent company of online travel platform ixigo, surged nearly 16% to hit a fresh all-time high on Thursday, as investors reacted positively to its strong June quarter earnings. The stock witnessed heavy buying interest after the company reported a 55% year-on-year (YoY) growth in Gross Transaction Value (GTV), driven by robust demand in bus and flight bookings despite a challenging quarter for the flight business.

Extending gains for the second consecutive session, ixigo shares jumped by as much as 15.9% to a record high of ₹207.55 on the BSE, pushing its market capitalisation to ₹8,065 crore. The small-cap stock has rallied 75% over the past three months, rebounding sharply from its 52-week low of ₹118.65 that it touched on April 7, 2025.

Since its market debut on June 18, 2024, Le Travenues Tech has delivered stellar returns, soaring 123% from its IPO price of ₹93 per share over the past 13 months. The stock has gained 42% in the past six months, while it added over 11% in a month. 

Technically, ixigo has witnessed a strong breakout on the weekly chart, supported by impressive volume activity. Notably, the stock has surged past its listing week high of ₹197 (June 2024), indicating renewed bullish momentum, said Drumil Vithlani, Technical Research Analyst at Bonanza.

Strong Q1 boosted momentum

ixigo shares gained momentum today after the travel company reported better-than-expected earnings in the June quarter. The online travel aggregator posted a consolidated net profit of ₹18.9 crore in Q1FY26, up 27% from ₹14.9 crore in the year-ago quarter. On a sequential basis, profit rose 13% from ₹16.8 crore.

The company’s revenue jumped 73% YoY to ₹314.5 crore in Q1FY26, while profit before tax and exceptional items grew 76% to ₹28.7 crore in the April-June quarter as compared to the corresponding period last year.

On the operating front, EBITDA rose 69% YoY to ₹32.5 crore, with adjusted EBITDA up 54% at ₹31.4 crore, underscoring margin improvements across its operations.

This comes on the back of a sharp uptick in GTV, which touched ₹4,644.7 crore in Q1, up 55% over the same period last year, driven by robust growth in flights and bus bookings, the company noted. Flight and bus segments posted an impressive 81% YoY increase in GTV, while train GTV saw a 30% jump. 

“We continue to see rapid growth and have hit new all-time highs,” said co-founders Rajnish Kumar and Aloke Bajpai. “Our playbook—rooted in customer focus, cross-sell and up-sell capabilities, tech-driven efficiencies, and rising brand salience—is delivering across verticals.”

JM Financial maintains ‘Buy’ rating

Domestic brokerage JM Financial expects ixigo to continue to deliver above-market growth in the near term on the back of effective cross-sell of services across its various apps, immense focus on superior customer experience and robust traction for its differentiated value-added services. It has retained a ‘Buy’ rating.

The brokerage said that accelerated growth investments led to a dip in contribution margin (% of revenue) by 700 bps YoY to 40.7%. Despite that, and an increase in spends towards branding, EBITDA margin was down only 112 bps YoY to 8.1%.

The management plans to continue to invest in technology, AI, new initiatives as well as brand marketing to enhance customer experience. “While this may lead to a disproportionate increase in technology cost in the near term, it would help increase customer engagement and stickiness in the long term,” the report noted.

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