On a sequential basis, profit increased 24% from ₹24 Cr
Operating revenue increased 9% to ₹308 Cr in Q4 FY26 from ₹284.1 Cr in the year-ago quarter
For the full FY26, ixigo's profit increased 19% to ₹71.5 Cr from ₹60.3 Cr in FY25 while operating revenue surged 34% YoY to ₹1,228 Cr.
Traveltech company ixigo
’s consolidated net profit for the fourth quarter of FY26 zoomed 91% to ₹32.1 Cr from ₹16.8 Cr in the previous year quarter. On a sequential basis, profit increased 24% from ₹24 Cr.
Operating revenue increased 9% to ₹308 Cr in Q4 FY26 from ₹284.1 Cr in the year-ago quarter. However, the top line saw a decrease of 4% from ₹319.7 Cr in the previous quarter.
Including other income of ₹18.8 Cr, total income for the quarter stood at ₹326.8 Cr. Meanwhile, expenses surged 36% YoY to ₹288.6 Cr.
At the operating level, adjusted EBITDA for the quarter under review increased 4% YoY to ₹30.3.
Gross transaction value (GTV) rose 12% YoY to ₹8,278.9 Cr in Q4 FY26. The company said train GTV stood at ₹4,112 Cr, up 8% YoY.
For the full FY26, ixigo’s profit increased 19% to ₹71.5 Cr from ₹60.3 Cr in FY25. Operating revenue surged 34% YoY to ₹1,228 Cr. The company’s full-year GTV rose 46% YoY to ₹30,974 Cr in FY26, while adjusted EBITDA increased 71% YoY to ₹129 Cr. Contribution margin for the year stood at ₹619 Cr.
During FY26, ixigo said monthly active users (MAUs) crossed 544 Mn while monthly transacting users (MTUs) rose to 5.7 Mn. The company highlighted strong traction from tier II and tier III markets, which continue to contribute a significant share of transactions across its OTA platforms.
In the Q4 earnings call, management said that domestic travel demand remained resilient during the quarter despite macroeconomic uncertainties. However, international travel demand was impacted by the Middle East conflicts as route curtailments by airlines along with rising airfares across several international corridors including Europe, the US, the Far East and Southeast Asia .
“We are seeing international trips being substituted into domestic flights because of the massive difference in fares,” management said, adding that higher airfares were also pushing some users toward buses and trains.
Growth of ixigo’s flight and train ticketing segment remained muted during the quarter. While the flight business’ revenue grew 9% YoY to ₹95.7 Cr, it fell 7% QoQ. Train business’ revenue fell 2% YoY and 7% QoQ to ₹124.4 Cr.
However, the bus business grew 22% YoY and 6% QoQ to ₹80.4 Cr.
The company said buses emerged as the biggest beneficiary amid elevated airfares and limited train availability. The company sees further room for growth in the segment, pointing out that online penetration in the bus bookings remains low at nearly 20-23% in India.
Management also said ixigo continued to outpace the broader online bus booking industry. The company added that it has onboarded over 6,000 bus operators, with more than 4,500 transacting monthly.
At the moment, it is increasing branding spends in regional markets such as Tamil Nadu as part of efforts to expand bus market share in key geographies.
On the train segment, management said growth continued to be impacted by policy-related changes across the railway ecosystem, including Tatkal timing changes and waitlist-related measures. However, ixigo said it continued to gain market share within the OTA train booking ecosystem.
The company also said upcoming railway infrastructure changes such as the rollout of a new PRS system and the possible opening up of unreserved ticketing to OTAs could act as future growth triggers for the segment.
Management further clarified that while ixigo remains dominant in train bookings, it is now focused more on monetising its large base of high-intent travel users through adjacent categories rather than aggressively chasing additional market share in trains.
ixigo also said it remains open to further acquisitions while continuing to invest in AI infrastructure, hotels and adjacent travel categories.
Shares of ixigo ended today’s trading session 1.14% higher at ₹163.8.
Source: Inc42 - Startups
