ixigo Shares Tank Over 19% After Q2 Loss

Update | October 30, 16:30 IST

Shares of ixigo ended the day’s trade 16.1% lower at INR 272.15 on the BSE. At this point, the company’s market capitalisation stood at INR 10,624.83 Cr (around $1.1 Bn).

Original | October 30, 11:33 IST

Shares of travel tech major ixigo slumped as much as 19.32% to INR 261.95 during the intraday trading on the BSE today after the company reported a net loss in Q2 FY26.

The travel major reported a net loss of INR 3.5 Cr in Q2 FY26 as against a net profit of INR 13.1 Cr in the year-ago quarter, largely due to one-time ESOP expenses of INR 26.9 Cr. Its operating revenue rose 36% YoY and 10% QoQ to INR 282.7 Cr during the quarter under review.

At 10:40 IST, shares of ixigo were trading 17.8% lower at INR 266 on the BSE. The company’s market capitalisation stood at INR 10,408.16 Cr (about $1.1 Bn).

The weak result also comes on the sidelines of the broader ecosystem witnessing a downturn in demand due to geopolitical issues. ixigo cofounder and CEO Aloke Bajpai said that a ‘tough’ environment and ‘de-growth’ across the entire travel ecosystem played spoilsport for the company in Q2.

Important to note that the company’s larger rival MakeMyTrip also incurred a lossof $5.7 Mn (INR 50 Cr) in Q2 due to finance costs from its recent capital raise.

As of now, ixigo is looking to raise fresh capital about one year after its IPO. On October 10, the company entered into a share subscription agreement with Prosus to raise INR 1,295.6 Cr.

The fresh capital will primarily go towards driving organic growth across our hotels segment and building an AI-first, agentic travel experience. Besides, the company would also be keeping an eye on strategic M&A opportunities.

Despite the decline today, the company’s stock is up nearly 50% on a year-to-date basis. It touched its 52-week high at INR 339.05 on October 16. Amid the bull run, the company’s investors have been actively offloading their stake or increasing their holding in the company. While Schroders increased its stake in the company to 7.18% last month, Elevation Capital offloaded a 2.59% stake in July.

Currently, ixigo cofounders Aloke Bajpai and Rajnish Kumar together own a 12.4% stake in the company. While domestic mutual funds held a 10.4% stake in the company at the end of the June quarter, foreign investors accounted for 56.9% of the stake.

The stock is up nearly 50% on a year-to-date basis. It touched its 52-week high at INR 339.05 on October 16.

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