Hotels Business Emerges as Growth Engine

IXIGO All-Time High Profit of ₹63.42 Crore; Hotels Business Emerges as Growth Engine **IXIGO** Le Travenues Technology Limited, the parent company of ixigo, reported strong Q2 FY27 performance, with consolidated revenue increasing 13% YoY to ₹320.96 crore. **Why it matters:** Gross Transaction Value (GTV) grew 22% to ₹5,304 crore, while reported net profit reached an all-time high of ₹63.42 crore. However, the profit was supported by a one-time gain from partial stake sale in Freshbus. Hotels emerged as the fastest-growing business segment, with GTV increasing 159% YoY to ₹111.34 crore. Flight and bus GTV grew 37% and 32%, respectively. **My view:** Strong growth in hotels, flights and buses highlights ixigo's expanding travel ecosystem. Its investments in AI and hotel distribution could support long-term growth. However, adjusted EBITDA declined 17% YoY to ₹23.58 crore, indicating operating profitability needs monitoring. **What to watch:** Hotel bookings, customer acquisition costs, adjusted EBITDA, GTV growth, AI investments and operating margins. **Stance:** ixigo has attractive growth opportunities in India's expanding travel market. Sustainable profitability and execution will remain important. **Disclosure:** I am a SEBI Registered Research Analyst. This content is for educational and informational purposes only and is not investment advice or a recommendation to buy or sell any security. Investments in securities markets are subject to market risks.