ixigo Slips Over 5%, Down Over 20% In 3 Sessions

Continuing its losing spree after it reported underwhelming Q2 numbers, shares of travel tech major ixigo fell as much as 5.4% to INR 255.65 during the intraday trading on the BSE today.

The company, on Wednesday (October 29), posted a net loss of INR 3.5 Cr in Q2 FY26 as against a net profit of INR 13.1 Cr in the same quarter last year. The loss was largely due to one-time ESOP expenses of INR 26.9 Cr. Meanwhile, operating revenue rose 36% YoY and 10% QoQ to INR 282.7 Cr during the quarter.

At 13:15 IST, ixigo shares were trading 4.4% lower at INR 258.35 on the BSE. The company’s market capitalisation stood at INR 10,086.08 Cr (about $1.2 Bn).

Notably, the stock tanked over 16% on Thursday (October 30) after the company reported its Q2 results post market hours on Wednesday. ixigo’s shares have fallen over 20% in the past three sessions from their closing price of INR 324.70 on Wednesday.

The weak Q2 came amid a broader slowdown in travel demand, impacted by ongoing geopolitical issues. ixigo cofounder and CEO Aloke Bajpai said that a “tough environment” and “de-growth across the entire travel ecosystem” weighed on the company’s Q2 performance.

Notably, ixigo’s larger rival MakeMyTrip also reported a loss of $5.7 Mn (INR 50 Cr) in Q2, mainly due to finance costs related to its recent capital raise.

Despite the recent dip, ixigo’s shares are up nearly 43% year to date, having touched their 52-week high of INR 339.05 on October 16. The broader upturn in the stock this year was driven by the company’s strong financial performance in the last few quarters and new partnerships to enhance its service offerings.

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.

ixigo cofounders Aloke Bajpai and Rajnish Kumar together held a 12.4% stake in the company at the end of the September quarter. While domestic mutual funds held 8.9% stake in the company, foreign investors accounted for 56.6% stake.

Besides, ixigo is preparing to raise fresh capital, having entered into a share subscription agreement with Prosus last month to raise INR 1,295.6 Cr. The fresh capital will be used to drive organic growth in the hotels segment, build an AI-first, agentic travel experience, and explore strategic M&A opportunities.

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