ixigo posted a Rs 63.4 crore consolidated net profit in Q2 FY27, a sharp swing from last year's Rs 3.5 crore loss. The bulk of this profit, Rs 40.7 crore, came from partially divesting its stake in intercity bus operator Freshbus. The move cleanly separates ixigo's core tech platform from an asset-heavy operational business it no longer wants to run.
How We Got Here
ixigo first invested in Freshbus in 2022, aiming to understand the nascent intercity electric bus market. In August 2026, the company then slashed its stake from 25.66% to 8.27%, clearly pivoting away from operational businesses.
The Numbers
- Revenue from operations rose 13% year-on-year to Rs 321 crore, but declined 10% sequentially.
- ixigo used Freshbus learnings to create a product for all EV operators, targeting state transport corporations running ~1,000 intercity e-buses.
- For the first time, Hotels was reported as a separate segment in Q2 FY27, showing over 5,000 bookings daily.
- Hotel GTV reached Rs 111 crore in Q2 FY27, up 39% quarter-on-quarter and 2.6x year-on-year, with a gross take rate over 12%.
- Over 86% of hotel bookings come from captive users on ixigo, Confirmtkt, and Abhibus, across 12,000+ direct hotel relationships.
What Happens Next
🇮🇳 Why This Matters for India
For product managers building hospitality tech in cities like Jaipur or Mysore, ixigo's 12% take rate on 12,000+ budget hotels validates a massive, underserved segment outside the OYO model.
The Take
ixigo's Freshbus exit clearly signals its commitment to asset-light tech platforms over operational businesses. The 12%+ gross take rate in hotels positions this segment as the company's next major growth engine, especially by capturing the fragmented budget and mid-market.
Source:
MediaNama ↗