ixigo swung to a Rs 63.4 crore net profit in Q2 FY27, largely from selling its stake in Freshbus. The intercity bus operator exit shows how even major travel aggregators are shedding capital-intensive operations to focus on core tech platforms. It also signals ixigo's deepening bet on the budget and mid-market hotel segment, now reported separately.
How We Got Here
ixigo first invested in Freshbus in 2022 when intercity electric buses were an untested idea, aiming to gain operational insights. The company had said in August this year it would dilute its Freshbus shareholding, crystallizing a Rs 40.7 crore gain.
The Numbers
- Profit of Rs 63.4 crore in Q2 FY27 contrasts with a Rs 3.5 crore loss a year earlier.
- Revenue from operations grew 13% YoY to Rs 321 crore, but fell 10% sequentially from Q1 FY27's Rs 356.8 crore.
- The Freshbus stake was reduced from 25.66% to 8.27%, classified as an 'exceptional item' in financials.
- ixigo's hotels business reported more than 5,000 bookings a day, hitting a GTV of Rs 111 crore in Q2 FY27.
- The hotels segment generated Rs 8.1 crore in revenue, with a gross take rate of over 12% — ixigo's highest-margin business.
What Happens Next
🇮🇳 Why This Matters for India
For hotel aggregators and proptech founders in Hyderabad and Pune, ixigo's focus on the 'Peace of Mind' problem for independent hotels shows where the next growth battleground lies beyond tier-1 city chains.
The Take
ixigo's Freshbus exit clarifies its pure-play tech platform ambition. The real play here is that ixigo absorbed the operational learnings of EV buses and will now productize those insights for other operators, effectively turning an exit into a new B2B SaaS revenue stream without the capex.
Source:
MediaNama ↗