Online travel aggregator ixigo reported a consolidated net profit of Rs 63.4 crore in the second quarter ended September 2026, reversing a loss of Rs 3.5 crore a year earlier. The profit surge was mainly driven by gains from the partial sale of its stake in intercity bus operator Freshbus, the company disclosed in its quarterly financial results.
In August 2026, ixigo reduced its shareholding in Freshbus from 25.66% to 8.27%, generating a gain of Rs 40.7 crore, recorded as an exceptional item. Revenue from operations increased 13% year-on-year to Rs 321 crore but declined 10% sequentially from Rs 356.8 crore in the previous quarter. Ixigo explained the exit by highlighting the operational differences between its technology platform and Freshbus's fleet management business.
Ixigo initially invested in Freshbus in 2022 when intercity electric buses were an emerging concept in India. This investment provided ixigo with insights into electric bus operations, including scheduling, charging, and route economics. Leveraging this knowledge, ixigo developed a product aimed at electric vehicle operators, targeting a market that includes over 1,000 intercity electric buses currently run by state transport corporations, according to an industry report cited by the company.
Ixigo's next financial update will be closely watched to assess the sustainability of its operational revenue growth following the Freshbus stake sale. The company’s strategic shift underscores its focus on technology and distribution platforms rather than operating fleets directly, as it continues to expand its offerings to electric vehicle operators.