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Decoding the financial performance of India's top OTA players

EntrackrEntrackr · 2y ago
Decoding the financial performance of India's top OTA players
Medial

India's top online travel agency (OTA) players, including MakeMyTrip, Ixigo, EaseMyTrip, and Yatra Online, have reported significant growth and profitability in the last financial year. MakeMyTrip led the pack with a 95% increase in operating revenue, making the majority of its revenue from hotels and packages. Ixigo also saw growth and turned profitable, while EaseMyTrip achieved impressive growth and profitability mainly through air ticketing. Yatra Online also witnessed growth and profitability, generating revenue from air ticketing, hotels and packages, and advertising. However, Cleartrip experienced a decline in scale and increased losses. The market remains attractive for these players due to the expanding middle class and rising overseas travel.

ixigo to acquire 60% stake in Spain’s Trenes for Rs 125 Cr, enters Europe

EntrackrEntrackr · 11d ago
ixigo to acquire 60% stake in Spain’s Trenes for Rs 125 Cr, enters Europe
Medial

**ixigo to acquire 60% stake in Spain’s Trenes for Rs 125 Cr, enters Europe** Online travel aggregator ixigo has approved the acquisition of a majority stake in Spain-based online train ticketing platform Trenes for a total investment of around Rs 125 crore. As part of the transaction, ixigo will acquire an upfront 60% stake in Trenes. Post-acquisition, Trenes will become a step-down subsidiary of ixigo. The company will also have the option to acquire the remaining shareholding at a later stage. Founded in 2013, Trenes operates across Spain and Southern Europe and is integrated with major Spanish and European rail operators, enabling multi-operator rail bookings. Spain’s rail market recorded 549 million passengers in 2024. Trenes reported operating revenue of around Rs 60 crore and a profit after tax of about Rs 15 crore in CY25. The acquisition is ixigo’s first major international deal and its strategic entry into Europe, a market widely regarded as the global benchmark for rail travel. ixigo expects to generate synergies by combining Trenes’ local market presence and rail integrations with its AI-led product capabilities and technology expertise. Founded in 2007 by Aloke Bajpai and Rajnish Kumar, ixigo operates an AI-based travel platform offering bookings across trains, flights, buses, hotels and cabs through its ixigo, ConfirmTkt and AbhiBus apps. The company reported over 54 crore annual active users in FY25. For the quarter ended December 2025, ixigo’s revenue from operations rose to Rs 317.6 crore in Q3 FY26 from Rs 242 crore in Q3 FY25, while profit increased 55% to Rs 24 crore from Rs 15.5 crore during the same period.

Coronation Fund Manager hikes stake in Ixigo to over 5%

EntrackrEntrackr · 13h ago
Coronation Fund Manager hikes stake in Ixigo to over 5%
Medial

Coronation Fund Manager hikes stake in Ixigo to over 5% Coronation Fund Managers Ltd, a South Africa-headquartered asset manager, has increased its shareholding in online travel platform Le Travenues Technology Limited (Ixigo), according to a regulatory filing. Coronation, listed on the Johannesburg Stock Exchange, acquired 1,83,322 equity shares of Le Travenues in the open market, according to the disclosure. The purchase pushed its stake above the 5% threshold. Before the transaction, Coronation held 2,18,52,552 shares, which is equal to 4.99% of Ixigo’s equity share capital. After the acquisition, its holding rose to 2,20,35,874 shares, or 5.03%. Recently, Prosus increased its stake in Ixigo to approximately 15% via an off-market transaction. Prosus acquired 3.16% fully diluted stake from Peak XV and 1.9% stake from Elevation. The purchase follows Ixigo’s announcement that it will acquire a 60% majority stake upfront, with an option to buy the remaining stake later, in Spain-based online train ticketing platform Trenes for around Rs 125 crore. Trenes will operate as an Ixigo step-down subsidiary. Ixigo’s revenue from operations increased to Rs 317.6 crore in Q3 FY26 in contrast to Rs 242 crore in Q3 FY25. The company increased its profit by 55% to Rs 24 crore in the same period. Ixigo’s shares are trading at Rs 164.4, giving the online travel aggregator a market capitalization of Rs 7,148 crore (approximately $786 million).

Schroders increases stake in Ixigo to 7.18%

EntrackrEntrackr · 5m ago
Schroders increases stake in Ixigo to 7.18%
Medial

Schroders increases stake in Ixigo to 7.18% Global asset manager Schroder Investment Management has increased its stake in Le Travenues Technology Limited, the parent of travel booking platform ixigo. According to a stock exchange filing, Schroders Group entities, acting as discretionary fund managers, acquired additional shares on September 18, 2025. The acquisition was made via the open market in which Schroders bought 41,638 shares of ixigo, increasing its stake by 0.011% to 7.179% from the previous holding of 7.169%. Schroders now has 2,80,28,378 shares of Ixigo. Earlier this year, Elevation Capital offloaded shares worth over Rs 226 crore in a bulk stake sale, realizing a return of approximately 31.6X on its investment. Meanwhile, in that same period, Schroders had picked up an additional 16.6 lakh shares from the open market, pushing its shareholding to 5.176%. Ixigo’s revenue from operations surged 72.5% to Rs 314 crore in Q1 FY26 compared to Rs 182 crore in Q1 FY25. During the period, the company’s net profit grew 27% year-on-year to Rs 19 crore in Q1 FY26 from Rs 15 crore in Q1 FY25. Ixigo’s shares are trading at Rs 278.55 (as of 15:31 PM), giving the online travel aggregator a market capitalization of Rs 10,874 crore.

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