ixigo Q2 profit at Rs 63 Cr on robust show in hotel booking biz

What happened

This was aided by the partial sale of stake in Freshbus and strong growth in the hotel bookings segment. ixigo (Le Travenues Technology Limited) has reported a consolidated net profit of Rs 63.42 crore for the September quarter, aided by the partial sale of stake in Freshbus, an intercity electric bus operator and smart mobility startup, and strong growth in the hotel bookings segment.

The travel and ticket booking platform had posted a net loss of Rs 3.46 crore in the corresponding July-September period of the last financial year, as per a regulatory filing. Hotels emerged as ixigo's fastest-growing business line by gross transaction value (GTV), reaching Rs 111.34 crore, up 159 per cent YoY, ixigo stated. This is the first time ixigo has reported hotels as a separate line of business.