Le Travenues Technology (IXIGO) shares plunge over 17% after it reports loss in September quarter

Shares of travel solutions provider Le Travenues Technology, which provides its services under the brand name IXIGO, fell as much as 17.38% to hit an intraday low of ₹268.30 on the National Stock Exchange after it reported its September quarter earnings post market hours on Wednesday.

Travel tech platform Ixigo (Le Travenues Technology Limited) on Wednesday reported a consolidated loss of ₹3.46 crore for the September quarter. The company had earned a net profit of ₹13.1 crore a year ago, a regulatory filing said.

It has recorded a one-off ESOP expense of ₹26.7 crore during the quarter.

"Profit before tax, share of loss of associates and exceptional items are at ₹2.5 crore in Q2 FY26, which included a one-off ESOP expense of ₹26.9 crore, and excluding the impact of this one-off was ₹24.4 crore...," ixigo stated.

During the July-September quarter, Ixigo's revenue from operations grew 37% year-on-year to ₹282.7 crore from ₹206.5 crore in Q2 FY25.

Flight revenue rose 60% to ₹89.4 crore, while bus revenue jumped 64% to ₹65.4 crore during the period under review.

However, its total expenses increased to ₹290.4 crore during the second quarter against ₹191.47 crore in the same period of the previous year.

"Despite Q2 facing some capacity headwinds, Ixigo continued its resilient momentum and grew faster than the overall market YoY in all lines of business, with buses and flights leading the growth and trains maintaining our OTA (Online Travel Agency) market leadership," Rajnish Kumar, Group Co-CEO of ixigo, and Aloke Bajpai, Group CEO of ixigo, said in a joint statement.

Le Travenues Technology, clocked Gross Transaction Value (GTV) of ₹4,644.7 crore in the first quarter of current financial year, growing by 55%. Flight and bus GTV led the growth with 81% increase YoY while Train GTV grew 30% YoY for Q1 FY26 versus Q1 FY25.

As of 9:24 am, IXIGO shares traded 16.92% lower at ₹269.80, underperforming the NIFTY50 index which was down 0.4%.