Synopsis:
A small-cap company’s shares are in focus after the company reported negative turnaround to loss despite increase in revenue.
A small-cap company operating online platforms that offer travel information and booking services is in the spotlight after reporting a loss despite a 37 percent surge in revenue. Read the article below for detailed insights.
With a market capitalization of Rs. 11,395 crore, the shares of Le Travenues Technology Limited closed at Rs. 261.55, up by 1.67 percent from its previous closing price of Rs. 257.25 per equity share.
Reason for Loss Despite Revenue Growth
Despite a robust 36.94 percent YoY rise in revenue, the company reported a net loss of Rs. 3.46 crore, compared to a profit of Rs. 13.09 crore in the same period last year. The loss was primarily attributed to a one-time ESOP expense of Rs. 27 crore, which impacted profitability despite strong operational performance.
Q2FY26 Results & Updates
Le Travenues Technology Limited reported Rs. 282.74 crore in revenue for the second quarter of FY26, a 36.94 percent increase over the Rs. 206.47 crore for the same period in FY25. It decreased by 10 percent as compared to Rs. 314.47 crore in Q1 FY26.
The company’s EBITDA for Q2 FY26 stood at a loss of Rs. 5.19 crore, which was a negative turnaround from a profit of Rs. 23.19 crore in Q1 FY26 and profit of Rs. 16.03 crore in Q2 FY25.
The consolidated net loss for the second quarter of FY26 was Rs. 3.46 crore, which was a negative turnaround from a profit of Rs. 18.94 crore in Q1 FY26 and profit of Rs. 13.09 crore in Q2 FY25.
Ixigo reported strong Q2 FY26 performance with Gross Transaction Value rising 23 percent YoY to Rs. 4,347.5 crore, driven by 29 percent growth in flights, 51 percent in buses, and 12 percent in trains. Contribution margin grew 20 percent YoY to Rs. 109.6 crore, while adjusted EBITDA rose 36 percent to Rs. 28.5 crore.
Ixigo Group announced several tech-driven travel enhancements and partnerships to boost user convenience and connectivity. It partnered with DMRC and ONDC for QR-based Delhi Metro ticketing, expanded AbhiBus network by adding seven new state transport corporations, and launched AI Smart Filters and enhanced Train Alternates for a smoother booking experience. The company also introduced Aadhaar-based IRCTC authentication for faster logins and teamed up with HDFC Bank via Confirmtkt to enable train ticket bookings with added rewards.
About the company
Founded in 2007 by Aloke Bajpai and Rajnish Kumar, ixigo (Le Travenues Technology Ltd) is a prominent Indian travel-tech platform that enables users to plan, book, and manage travel across trains, flights, buses, and hotels through its ixigo, Confirmtkt, and AbhiBus apps. Leveraging AI-based technology and crowd-sourced data, the company caters to over 54 crore annual active users, establishing itself as India’s leading online travel agency (OTA) for the next generation of travelers.
A return on equity (ROE) of about 9.74 percent, a return on capital employed (ROCE) of about 12.6 percent and debt to equity ratio at 0.06 demonstrate the company’s financial position. At the moment, the company’s P/E ratio is 237x which is higher as compared to its industry P/E 37.4x.
As of September 2025, the company’s shareholding pattern shows that Foreign Institutional Investors (FIIs) hold 59.64 percent, while Domestic Institutional Investors (DIIs) own 9.37 percent. The public shareholding stands at 30.99 percent, reflecting a healthy level of retail and institutional participation in the company.
Written By Akshay Sanghavi
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