Key Board Approvals

The Board of Directors at its meeting held on October 17, 2026 (11:30 AM to 11:55 AM IST) approved:

1. Unaudited financial results (consolidated and standalone) for the quarter and half year ended September 30, 2026

2. Allotment of 173,780 equity shares pursuant to exercise of stock options under various ESOP schemes

3. Re-appointment of PricewaterhouseCoopers Services LLP as Internal Auditors for FY 2026-27

Financial Results Highlights (Consolidated)

Quarter Ended September 30, 2026 (Q2 FY27):

  • Revenue from operations: ₹320.96 crore (vs ₹284.23 crore in Q2 FY26)
  • Other income: ₹22.08 crore (vs ₹5.17 crore in Q2 FY26)
  • Total income: ₹343.04 crore (vs ₹289.40 crore in Q2 FY26)
  • Profit before exceptional items and tax: ₹31.04 crore (vs loss of ₹3.96 crore in Q2 FY26)
  • Exceptional items: ₹40.66 crore gain (from sale of Freshbus investment)
  • Profit before tax: ₹71.70 crore (vs loss of ₹3.96 crore in Q2 FY26)
  • Net profit: ₹63.42 crore (vs loss of ₹3.46 crore in Q2 FY26)
  • EPS (basic): ₹1.37 (vs loss of ₹0.08 in Q2 FY26)
  • EPS (diluted): ₹1.35 (vs loss of ₹0.08 in Q2 FY26)

Half Year Ended September 30, 2026 (H1 FY27):

  • Revenue from operations: ₹677.71 crore (vs ₹600.28 crore in H1 FY26)
  • Other income: ₹51.23 crore (vs ₹12.13 crore in H1 FY26)
  • Total income: ₹728.94 crore (vs ₹612.41 crore in H1 FY26)
  • Profit before exceptional items and tax: ₹75.20 crore (vs ₹22.37 crore in H1 FY26)
  • Exceptional items: ₹40.66 crore gain
  • Profit before tax: ₹115.86 crore (vs ₹22.37 crore in H1 FY26)
  • Net profit: ₹97.66 crore (vs ₹15.48 crore in H1 FY26)
  • EPS (basic): ₹2.11 (vs ₹0.40 in H1 FY26)
  • EPS (diluted): ₹2.08 (vs ₹0.40 in H1 FY26)

Segment Performance (Q2 FY27)

  • Flight: Revenue ₹82.66 crore, Segment result ₹35.68 crore
  • Train: Revenue ₹149.14 crore, Segment result ₹47.23 crore
  • Bus: Revenue ₹81.04 crore, Segment result ₹43.14 crore
  • Hotel: Revenue ₹8.10 crore, Segment loss ₹1.21 crore
  • Other: Revenue ₹0.02 crore, Segment result ₹0.02 crore

Balance Sheet Position (Consolidated as of September 30, 2026)

  • Total assets: ₹2,726.21 crore (vs ₹2,541.31 crore as of March 31, 2026)
  • Cash and cash equivalents: ₹640.53 crore (vs ₹344.49 crore as of March 31, 2026)
  • Total equity: ₹2,181.72 crore (vs ₹2,047.90 crore as of March 31, 2026)
  • Paid-up equity share capital: ₹44.11 crore (vs ₹43.82 crore as of March 31, 2026)

ESOP Allotment Details

The company allotted 173,780 fully paid-up equity shares of face value ₹1 each pursuant to exercise of stock options under various ESOP schemes (ESOS 2012, 2013, 2016, 2020, 2021, and 2024).

  • Total money realized: ₹21,42,048.25
  • Exercise prices ranged from ₹1.25 to ₹93 per share
  • Distinctive numbers: 441089315 to 441263094
  • Post-allotment paid-up capital increased from ₹441,085,150 to ₹441,258,930
  • The shares rank pari passu with existing equity shares

Investments and Acquisitions

During the quarter, the company made several investments:

1. Vestra.AI: Subscribed to 450,000 FCDs of ₹100 each in Forgeural Systems Private Limited for ₹4.50 crore

2. Zoop: Acquired additional 11% equity stake in subsidiary Zoop Web Services Private Limited for ₹3.63 crore, increasing holding from 62% to 73%

3. Sqaas: Granted convertible loan of €0.22 million (₹2.39 crore) to Squad As A Service, S.L.

4. Brevistay: Acquired 54.66% equity stake in Brevistay Hospitality Private Limited for ₹65.69 crore (including non-compete fees), making it a subsidiary from July 4, 2026

Freshbus Investment Sale

On August 13, 2026, the company sold 46,264 Compulsorily Convertible Preference Shares of Freshbus Private Limited at ₹7.911 per share for aggregate consideration of ₹36.60 crore. This reduced the company's holding from 25.66% to 8.27%, and Freshbus ceased to be an associate. The transaction resulted in an exceptional gain of ₹40.66 crore.

Preferential Issue Proceeds Utilization

As of September 30, 2026, out of the ₹1,295.56 crore preferential issue proceeds:

  • ₹1,017.56 crore utilized
  • ₹278.00 crore unutilized (temporarily invested in fixed deposits)

Breakdown:

  • Organic Growth: ₹323.89 crore (fully utilized)
  • Inorganic Growth: ₹162.25 crore utilized, ₹161.64 crore unutilized
  • Working Capital: ₹323.89 crore (fully utilized)
  • General Corporate Purposes: ₹207.53 crore utilized, ₹116.36 crore unutilized

Subsidiaries and Associates

The consolidated results include:

Subsidiaries: Ixigo Europe Sociedad Limitada, Zoop Web Services Private Limited, Brevistay Hospitality Private Limited (w.e.f July 4, 2026), IXIGO PTE. LTD., Online Travel Solutions, S.L.

Associates: FreshBus Private Limited (upto August 13, 2026), Squad As A Service, S.L.

Auditor Review

The unaudited financial results were reviewed by S.R. Batliboi & Associates LLP who issued an unmodified review report.

Trading Window Closure

The trading window for designated persons will reopen effective October 20, 2026.

Internal Auditors

PricewaterhouseCoopers Services LLP (LLP Identification No. AAI-8885) was re-appointed as Internal Auditors for the financial year ending March 31, 2027.

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