Shares of ixigo, surged nearly 6% to hit an intraday high of ₹173.5 on the BSE today
The rally came after ixigo yesterday reported a 91% rise in its consolidated net profit to ₹32.1 Cr in Q4 FY26 from ₹16.8 Cr in the year-ago quarter
JM Financial retained its ‘Buy’ rating on ixigo following the results but cut the target price to ₹200
Shares of Le Travenues Technology, the parent of follow mesurged nearly 6% to hit an intraday high of ₹173.5 on the BSE today as investor sentiment turned bullish following the company’s strong Q4 FY26 performance.
The stock later pared some of the gains and was trading 4% higher at ₹170.3 at 13:50 IST. The company’s market capitalisation stood at ₹7,462.2 Cr (about $778.2 Mn) at the time.
The rally came after ixigo yesterday reported a 91% increase in its consolidated net profit to ₹32.1 Cr in Q4 FY26 from ₹16.8 Cr in the year-ago quarter. Sequentially, profit rose 24% from ₹24 Cr.
Operating revenue rose 9% YoY to ₹308 Cr in Q4 FY26 from ₹284.1 Cr a year ago, although it declined 4% sequentially from ₹319.7 Cr.
Including other income of ₹18.8 Cr, total income for the quarter stood at ₹326.8 Cr. Meanwhile, total expenses surged 36% YoY to ₹288.6 Cr.
At the operating level, adjusted EBITDA increased 4% YoY to ₹30.3 Cr in the quarter. Gross transaction value (GTV) rose 12% YoY to ₹8,278.9 Cr, while train GTV increased 8% YoY to ₹4,112 Cr.
For the full FY26, ixigo’s profit increased 19% YoY to ₹71.5 Cr from ₹60.3 Cr in FY25, while operating revenue surged 34% to ₹1,228 Cr. GTV rose 46% YoY to ₹30,974 Cr in FY26 and adjusted EBITDA jumped 71% YoY to ₹129 Cr. Contribution margin for the year stood at ₹619 Cr.
The company’s management, in the Q4 earnings call, said domestic travel demand stayed strong, while international travel was impacted by Middle East tensions, which led to flight disruptions and higher airfares across key global routes.
“We are seeing international trips being substituted into domestic flights because of the massive difference in fares,” the management said, adding that elevated airfares were also pushing some users toward buses and trains.
ixigo’s bus business was the strongest performer, with revenue rising 22% to ₹80.4 Cr. While flight revenue grew 9% to ₹95.7 Cr, train revenue fell 2% to ₹124.4 Cr.
The management added that higher airfares and limited train availability boosted bus demand, while train growth was impacted by Indian Railways’ policy changes.
The company also said it remains focused on monetising its large train user base, expanding in regional bus markets and investing in AI, hotels and adjacent travel categories.
JM Financial retained its ‘Buy’ rating on ixigo following the results but cut the target price to ₹200, citing slower GTV growth and lower EPS estimates due to AI investments and Fresh Bus losses.
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