Le Travenues, operator of ixigo, clocks faster-than-expected growth riding on Gen Z bookings, shares soar 14 percent
Shares of Le Travenues Tech, the operator of online travel portal Ixigo were higher by 14 percent to trade at all-time highs after the June quarter results showed strong growth, led by faster-than-expected growth in bus and flight bookings with a Gross Transaction Value (GTV) growth of 55% on year.
Le Travenues' June quarter revenue rose by 73% on year to Rs 314 crore, while the net profit rose by 27.7% YoY to Rs 18.9 crore. The Gross Transaction Value (GTV) rose to Rs 4,644.66 crore in Q1FY26, growing by 55% YoY. Flight and Bus GTV each grew 81% YoY, and Train GTV rose by 30% YoY for Q1FY26, underpinned by strong domestic travel demand. The Gross Transaction Value (GTV) has clocked a CAGR of 83.7% over the last six years. The management is confident of sustaining a GTV growth of over 40 percent for the full year.
"...we still have significant headroom for growth. But as we scale and category penetration deepens, it’s natural that our growth rates will gradually moderate and align more closely with the long-term category growth rates in our industry. Our job is to extend this phase of outperformance as long as possible," Saurabh Devendra Singh, Group CFO, ixigo said.
The bus and train segments at ixigo continue to gain traction, with train bookings by Gen Z travellers (aged 18-30) rising 45% YoY on the portal, led by Mumbai, Delhi, Kolkata, Visakhapatnam and Pune as the fastest-growing markets. Bus bookings by Gen Z saw an even sharper growth, rising 56% YoY, the company filing said. CEO and MD Aloke Bajpai said over the next few years, he is confident of grow 'significantly faster than the market' in segments like Hotels, Buses and Flights, and "in line with the online market’s growth in Trains". The company's train booking market share has now grown to more than 60 percent.
The strong growth has come during a quarter that had seen disruption in flights and airspace closures due to Op Sindoor. The management admitted temporary airspace closures across North India in May was significant, but the post-event recovery has been 'swift', adding that the ecosystem has adapted quickly.
ixigo's Director Rajnish Kumar said he is confident of stronger growth in flight business. "Penetration of air travel in India is still in its early innings compared to global benchmarks, and we see headroom for growth, particularly from regional airports and underserved segments. Just over 4% of Indians travel on flights, compared to 37%+ in China and 85%+ in the US and once the GDP per capita crosses the $400 mark in India we expect discretionary to flow further in flight and hotel categories," Kumar said.India’s airport infrastructure, poised for an expansion, will see the number of operational airports double in ten years to over 160 in 2025. "The government is targeting 200 airports by next year, and 240 airports by 2030, through a Rs 92,000 crore investment push," the CFO said, highlighting it as a tailwind for the company.