Transcript of Earnings Call on financial results for the quarter and financial year ended March 31, 2026
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Le Travenues Technology (ixigo) reported Q4 FY26 results with revenue from operations at INR308 crores (up 8% Y-o-Y) and highest-ever PAT of INR32 crores (up 91%). For the full year FY26, revenue reached INR1,228 crores (up 34%), crossing USD2 billion in GTV at INR18,693 crores, with adjusted EBITDA of INR121 crores (up 28%) and operating cash flow up 60% to INR196 crores. The company highlighted buses as its fastest-growing segment with 32% passenger growth in Q4, while flights became its largest by GTV at INR2,019 crores. Trains faced headwinds due to policy changes (Tatkal timing restrictions, reduced waitlist inventory) and a high Kumbh base. The company launched ixigo NEXT, an AI-native platform featuring autonomous agents and a proprietary language model called TARA, which handles 81.5% of voice and 91.1% of chat conversations end-to-end.
The strong PAT growth and operating cash flow generation demonstrate improving profitability, while market share gains in buses and flights show business diversification working. Near-term headwinds in trains from policy changes are expected, but AI investments (5-year capitalized) could drive long-term engagement and retention.