Le Travenues Technology reports its strongest first quarter yet, driven by bus division growth and increased market share, while balancing investments in AI and expansion amid cautious near-term outlooks.
Le Travenues Technology, which operates the ixigo travel platform, said its first quarter was its strongest yet by gross transaction value, even as it continued to spend aggressively on new products and expansion. According to the company’s earnings call summary, group gross transaction value reached INR5,524 crore, up 19% from a year earlier, while revenue from operations rose 13% to INR356.75 crore. Profit after tax climbed 81% to INR34.24 crore, underscoring that the business is still finding room to grow earnings despite heavier investment in artificial intelligence, hotels and brand marketing.
The clearest driver was the bus division, AbhiBus, which the company said outpaced the market with 39% gross transaction value growth and became the largest contributor to group contribution margin. Management also said ixigo increased its share of the online travel agency train market to 63%, compared with about 60% a few quarters ago. That follows a wider pattern seen in earlier reporting on the company’s FY26 performance, when bus led growth and trains remained a key revenue engine, even as the broader travel market stayed uneven.
At the same time, adjusted EBITDA fell 7% to INR29.24 crore as the company absorbed higher spending on AI infrastructure, hotel supply and seasonal brand campaigns around the IPL period. Chief executive Aloke Bajpai said the marketing surge should not be read as a new normal, while chief financial officer Saurabh Singh said total customer inducement costs are still expected to stay within about 4% of gross transaction value. The company’s message was that it is choosing to trade short-term margin expansion for deeper product development, rather than trying to buy growth through subsidies.
Management was also cautious on near-term flight demand. Bajpai said geopolitical disruption and airline capacity cuts have pushed fares higher, lifting average transaction values but weighing on volume growth. He said Air India has cut capacity by about 20% and IndiGo by about 10%, which could make the next quarter difficult. On hotels, the company said about 90% of bookings now come from its own user base, and it has taken a 54.66% stake in Brevistay to accelerate direct supply. The launch of ixigo Next, an AI-native app built around the Tara assistant, is meant to sharpen customer insight and support future product development.
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