Ixigo parent Le Travenues Technology posts highest ever quarterly profit in Q1 FY27, driven by a sharp jump in bus travel bookings.

Profit after tax rose 81% from a year earlier to Rs 34.24 crore, the highest the company has ever reported for a single quarter.

The overall booking value flowing through the platform, a number the company calls Gross Transaction Value, grew 19% to Rs 5,524.33 crore.

Revenue from operations rose 13% to Rs 356.75 crore, while EBITDA, a measure of core operating profit before accounting for interest, tax and depreciation, jumped 65% to Rs 53.52 crore.

Buses turned out to be the standout performer. Bookings on ixigo’s bus platform, AbhiBus, grew 39% in value terms and 34% in revenue, making buses the company’s biggest contributor to profit margins for the first time.

This was partly due to events outside the company’s control. Due to increased oil costs brought on by the Iranian crisis and capacity reductions by carriers like Air India and IndiGo, airfares increased dramatically during the quarter, rising 22% domestically and 38% internationally.

That pushed more travellers, especially first time flyers, toward buses and trains instead. Bus growth crossed 60% in 17 states, spanning both established markets like Delhi and newer ones across the Northeast.

Flights still remained ixigo’s largest business by booking value, growing 27% despite the turbulence, while trains held a steady 63% share of the online travel agent market.

Hotels are where the company is now placing its bets for future growth. ixigo facilitated half a million room nights during the quarter and expanded its direct hotel network to more than 10,000 properties across roughly 700 towns.

It also picked up a 54.66% stake in Brevistay, India’s largest flexible stay hotel network, to strengthen its supply.

This segment is still in an investment phase, with losses widening as the company builds it out, but the company says most bookings are coming from its existing users rather than expensive new customer acquisition.

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