Q1 2027 Le Travenues Technology Ltd Earnings Call Transcript
Key Points
- Le Travenues Technology Ltd (NSE:IXIGO) achieved an all-time high GTV of INR5,524 crores, up 19% YoY, with revenue from operations growing 13% YoY to INR356.75 crores.
- Profit after tax surged 81% YoY to INR34.24 crores, demonstrating strong bottom-line growth despite a challenging external environment.
- The bus business, AbhiBus, is outperforming the market with 39% YoY GTV growth, becoming the largest contributor to the group's contribution margin at 37%.
- The company continues to gain market share across all categories, including increasing its share of the OTA train market to 63% from approximately 60% a few quarters ago.
- The launch of ixigo Next, an AI-native travel application with the 'Tara' assistant, is providing a richer view of customer intent and creating a new source of product intelligence for future growth.
- The company is strategically investing in its hotels business, with 90% of bookings coming from its own captive user base, and has acquired a 54.66% stake in Brevistay to accelerate direct supply and scale efficiently.
- Adjusted EBITDA declined 7% YoY to INR29.24 crores, impacted by intentional investments in AI and hotels, as well as higher brand marketing spend during the IPL season.
- The aviation market faced a difficult quarter due to the Iran conflict, leading to high airfares and capacity cuts by airlines like Air India and Indigo, which is expected to pressure near-term flight growth.
- The train ticketing ecosystem continues to face policy constraints, including changes to Tatkal access and additional authentication requirements, leading to an 8% YoY decline in train segments booked.
- The 'Other' segment, which includes the hotel buildout, reported a negative contribution margin of INR3.06 crores, reflecting the company's deliberate choice to invest in this new growth engine.
- The company remains cautious about near-term aviation passenger growth due to ongoing capacity reductions and high fares, which could impact the next billion user funnel for flight upgrades.
- Technology costs are expected to increase in the near term due to front-loaded investments in AI infrastructure, model development, and token usage, before potential productivity benefits are realized.
Ladies and Gentlemen, good day and welcome to Le Travenues Technology, also known as ixigo Q1 2026 and 2027 on a conference call hosted by DAM Capital. This conference call may contain forward-looking statements about the company which are based on beliefs, opinions and expectations of the company as on date of this call. These statements are not the guarantee of future performance and involve risks and uncertainties that are difficult to predict. (Operator Instructions)
I now hand the conference over to Mr. Anmol Garg from Dam Capital.
Thank you and over to you, Anmol.
Thank you, Danish.
Good evening, everyone. On behalf of Dam Capital, I welcome you all to ixigo Q1 FY2027 earnings call. We have with us Mr. Aloke Bajpai, Chairman, MD and Group CEO of the company, Mr. Rajnish Kumar, Director and the Group Co-CEO of the company. Mr. Saurabh Devinder Singh, Group CFO of the company. Now before I hand over the call to Aloke, Saurabh and Rajnish, I would like to highlight the safe harbor
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