Board meeting outcome: Q2 FY27 results with unmodified opinion, ESOP allotment, internal auditor re-appointment
Board meeting on Oct 17, 2026 approved unaudited consolidated and standalone results for the quarter and half year ended September 30, 2026; limited review reports carry an unmodified opinion.
By ScoutQuest · · 3 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 320.96 | 284.23 | +12.9% | 356.75 | −10% |
| Total income | 343.04 | 289.40 | +18.5% | 385.90 | −11.1% |
| Profit before tax | 71.70 | (3.96) | — | 44.16 | +62.4% |
| Profit after tax | 63.42 | (3.46) | — | 34.24 | +85.2% |
| Total comprehensive income | 64.35 | (4.16) | — | 34.44 | +86.8% |
| Basic EPS | 1.37 | (0.08) | — | 0.73 | +87.7% |
- Total income
- Latest 343.04; Year ago 289.40 (+18.5%); Prev qtr 385.90 (−11.1%)
- Profit after tax
- Latest 63.42; Year ago (3.46); Prev qtr 34.24 (+85.2%)
- Period
- For the quarter ended 30.09.2026 (Unaudited)
Also decided at the meeting
- Allotted 173,780 fully paid equity shares of face value ₹1/- each on exercise of stock options under ESOS 2012, 2013, 2016, 2020, 2021 and 2024.
- Paid-up share capital increased from ₹441,085,150/- to ₹441,258,930/- consequent to the ESOS allotment.
- Re-appointed PricewaterhouseCoopers Services LLP as Internal Auditors for the financial year ending March 31, 2027.
Auditor's review
Conclusion: Unmodified
Notes to the results
- Exceptional gain of INR 40.66 crore recognised on Freshbus ceasing to be an associate after sale of 46,264 CCPS for INR 36.60 crore on August 13, 2026 (stake reduced from 25.66% to 8.27%).
- Acquired 54.66% stake in Brevistay Hospitality Private Limited for INR 65.69 crore; consolidated as subsidiary from July 1, 2026 with provisional purchase price allocation.
- Acquired additional 11% stake in Zoop Web Services for INR 3.63 crore, raising holding from 62% to 73%; accounted as equity transaction.
- Hotels identified as a separate operating segment and food-on-train services reclassified under Trains; comparative segment figures restated.
What the board met for
Le Travenues Technology (ixigo) held a board meeting on October 17, 2026, from 11:30 A.M. to 11:55 A.M. IST. The board considered and approved the unaudited financial results for the quarter and half year ended September 30, 2026, an allotment of equity shares on exercise of employee stock options, and the re-appointment of the internal auditors.
The auditor's conclusion
The limited review reports on both the consolidated and the standalone results carry an unmodified opinion. The auditor states that nothing came to its attention that causes it to believe the statements are not prepared in line with the applicable accounting standards or that they contain a material misstatement. For the consolidated statement, the review also relies on the reports of other auditors for two subsidiaries. A limited review is narrower than a full audit.
How the quarter looked (consolidated, Rs. crore)
- Revenue from operations: 320.96 for the quarter, against 284.23 in the same quarter last year.
- Profit before exceptional items and tax: 31.04, positive this quarter against a loss a year earlier.
- Exceptional items: a gain of 40.66.
- Profit for the period: 63.42, against a loss a year earlier.
- For the half year, Profit for the period was 97.66.
The exceptional gain is a one-off. It arises from the sale of Compulsorily Convertible Preference Shares of Freshbus Private Limited; after that sale the group's holding in Freshbus came down and Freshbus ceased to be an associate of the group with effect from August 13, 2026. So a meaningful part of the quarter's profit is not from day-to-day operations. The line that reflects the operating business is Profit before exceptional items and tax, which is 31.04.
Segments and grouping
Train was the largest revenue segment for the quarter, followed by Flight and Bus, with Hotel the smallest. Hotels have been identified as a separate reporting segment and food-on-train services moved into the Train segment from this quarter, with earlier periods restated. During the half year the group also brought Brevistay Hospitality Private Limited in as a subsidiary and raised its stake in Zoop Web Services Private Limited, with no change in control.
Balance sheet and cash
The consolidated balance sheet continues to carry a large goodwill balance from past acquisitions, and cash and bank balances rose during the half year. Net cash generated from operating activities for the half year was positive, though lower than in the same half of the previous year. Total assets rose during the half year, largely on acquisitions and intangibles.
Share allotment
173,780 fully paid up equity shares of face value ₹1/- each were allotted to option holders under the ESOS 2012, ESOS 2013, ESOS 2016, ESOS 2020, ESOS 2021 and ESOS 2024 schemes. With this, the paid-up share capital rose to ₹441,258,930/-. This is a small dilution and is routine employee share issuance against options already granted.
The other agenda items
- PricewaterhouseCoopers Services LLP was re-appointed as Internal Auditors of the company for the financial year ending March 31, 2027.
- The trading window for dealing in the company's securities reopens for designated persons and their immediate relatives from October 20, 2026.
- The results and limited review reports are placed as part of the update, with the option-allotment and auditor details in separate annexures.
What a retail reader can take away
Revenue from operations grew year on year and the operating profit line turned positive. The headline profit number, however, includes the one-off Freshbus gain, so the operating line is the better read on the quarter. The rest of the meeting was housekeeping — employee shares and the internal auditor appointment — with the auditor's unmodified conclusion being the reassuring part of the update.
Also from Le Travenues Technology
Le Travenues Technology files audio recording of earnings call on Q2/H1 results ended September 30, 2026
19 Oct 2026
Ixigo management discussed hotel business growth strategy, cross-sell advantage from existing user base, and sale of Fresh Bus stake as part of asset-light strategy
19 Oct 2026
Ixigo posted a record quarterly profit after tax of 61.3 crore rupees in Q2, boosted by hotel business growth and a partial stake sale in Fresh Bus
19 Oct 2026
More numbers
- Profit before exceptional items and tax, consolidated, Q2 FY27 (INR crore)31.04
- Exceptional items gain, consolidated, Q2 FY27 (INR crore)40.66
- Profit for the half year, consolidated (INR crore)97.66
- Equity shares allotted on ESOP exercise173,780
- Paid-up share capital after allotment₹441,258,930/-
- Total income, latest quarter343.04 (INR crores)
- Total income, year-ago quarter289.40 (INR crores)
- Total income, previous quarter385.90 (INR crores)
- Total comprehensive income, latest quarter64.35 (INR crores)
- Total comprehensive income, year-ago quarter(4.16) (INR crores)
- Total comprehensive income, previous quarter34.44 (INR crores)
- Profit after tax, latest quarter63.42 (INR crores)
- Profit after tax, year-ago quarter(3.46) (INR crores)
- Profit after tax, previous quarter34.24 (INR crores)
- Revenue from operations, latest quarter320.96 (INR crores)
- Revenue from operations, year-ago quarter284.23 (INR crores)
- Revenue from operations, previous quarter356.75 (INR crores)
- Profit before tax, latest quarter71.70 (INR crores)
- Profit before tax, year-ago quarter(3.96) (INR crores)
- Profit before tax, previous quarter44.16 (INR crores)
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