Transcript of Earnings Call on Financial Results for quarter and half year ended September 30, 2026

October 27, 2026 LTTL/L&S/2026-27/10/16 The Listing Department, The Listing Department, National Stock Exchange of India Limited, BSE Limited, Exchange Plaza, C-1, Block G, Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Dalal Street, Bandra (E), Mumbai - 400 051 Mumbai - 400 001 Maharashtra, India Maharashtra, India Dear Sir/Madam, Sub : Announcement under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Transcript of Earnings Call - Financial Results for the quarter and half year ended September 30, 2026 Ref : Le Travenues Technology Limited (the “Company”) NSE Symbol: IXIGO and BSE Scrip Code: 544192 In compliance with Regulation 30 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), please find enclosed the transcript of the Earnings Call conducted on October 19, 2026, pertaining to the financial results of the Company for the quarter and half year ended September 30, 2026. This transcript is also available on the website of the Company at https://investors.ixigo.com/. This is for your information and records. Thank you, For Le Travenues Technology Limited Suresh Kumar Bhutani (Group General Counsel, Company Secretary & Compliance Officer) Le Travenues Technology Limited (“ixigo”) Q2, FY27 Earnings Conference Call October 19, 2026 MANAGEMENT: MR. ALOKE BAJPAI, CHAIRMAN, MANAGING DIRECTOR AND GROUP CHIEF EXECUTIVE OFFICER OF LE TRAVENUES TECHNOLOGY LIMITED MR. SAURABH DEVENDRA SINGH, GROUP CHIEF FINANCIAL OFFICER OF LE TRAVENUES TECHNOLOGY LIMITED MODERATOR: MR. ANMOL GARG FROM DAM CAPITAL ADVISORS LIMITED Le Travenues Technology Limited October 19, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Le Travenues Technology, also known as ixigo, Q2 FY27 Earnings Call, hosted by DAM Capital Advisors Limited. As a reminder, all participant lines will be in listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star then zero on your touch-tone phone. Please note that this conference is being recorded. I now hand the conference call over to Mr Anmol Garg from DAM Capital Advisors. Thank you, and over to you, sir. Anmol Garg: Thank you, Iqra. Good evening, everyone. On behalf of DAM Capital, I welcome you all to ixigo's Q2 FY27 Earnings Call. With us are Mr Aloke Bajpai, Chairman, MD, and Group CEO of the company, and Mr Saurabh Devendra Singh, Group CFO of the company. Before I hand over the call to Aloke and Saurabh, I would like to highlight the safe harbour statement on the second slide of the presentation, which is assumed to be read and understood. I now hand over the call to you, Aloke. Thank you, and over to you. Aloke Bajpai: Thank you. Good afternoon, everyone, and thank you for joining our Q2 FY27 Earnings Call on what is technically a long weekend. And I'm assuming many of you have booked your long weekend this time using ixigo, ConfirmTkt or AbhiBus. At ixigo, our ambition is to build the best customer experience for travel. We've built our business by understanding where our journey becomes stressful and then using technology to give people more certainty and peace of mind. Once we prove our ability to deliver peace of mind, we have seen that it builds customer loyalty and trust. This quarter, we have made progress across the business in quite different market conditions across these lines of business. Trains recovered with some of the base effect of policy changes starting to go away, buses continued to grow strongly and secularly, and hotels took a great leap forward, getting to a critical mass that makes it large enough to start disclosing. Flights faced a tougher external environment with high fares and limited capacity affecting bookings growth, and the overall market was down nearly 6% in volume terms in the quarter. Despite that, the team pulled off 7% segment growth, which in itself is an achievement. In Q2 FY27, we delivered resilient growth on quarterly GTV as well of INR5,304 crores, up 22% Y-o-Y, and revenue from operations of INR321 crores, up 13% Y-o-Y. Our PAT was an all-time high, aided by our partial sale of stake in Freshbus. Flight and bus led the quarter with GTV growth of 37% and 32% Y-o-Y, respectively. From this quarter onwards, we are also disclosing a new line of business of hotels, which grew GTV 2.6x Y-o-Y, INR 211 crores, with a gross take rate of more than 12%. Page 2 of 19 Le Travenues Technology Limited October 19, 2026 Before Saurabh takes you through the numbers in detail, let me deep dive a bit into each line of business and give some colour on the choices we are making for the next phase of growth. The recovery in trains was encouraging. Advanced bookings for Dussehra and Diwali helped volumes, and we stepped up our focus on growth again, while maintaining healthy unit economics. However, we want to see that momentum continue beyond the festive season before calling it a sustained recovery. I also want to mention that ConfirmTkt now has a 4.9 rating on the Google Play Store. And among the apps that have a scale of over 100 million downloads, it has become the highest- rated travel app in the world that operates at this kind of scale. For us, that is a meaningful endorsement from the travellers we serve. We are also expanding our relationship with travellers beyond the ticket, food on trains, metro tickets and our new Bharat Darshan rail package offerings. These have enhanced our ixigo train app, where we are able to serve more parts of the journey. In buses, AbhiBus has been growing faster than the overall OTA bus market for close to 3 years. Expanding supply, building our brand in markets where we have room to grow, and improving the travel experience continue to drive that performance. Our new women's zone is a good example of how we are improving this experience. It helps women travelling alone make more informed choices through ratings from other women, information about seats next to other women and other women-friendly features that build trust in making operator choices and see choices with more confidence. Flight remains challenging in the near term as capacity has not returned as quickly as we had expected, and we are seeing the impact of oil prices reflected in the 30% increase in fares Y- o-Y on several routes. International travel has been more encouraging, with our international flight GTV growing 59% year-on-year. Let me spend a little time on hotels because we see a significant opportunity to build our next major business here. We are disclosing hotels in the same level of detail as other businesses now because product-market fit is emerging and the business has become more material. This reflects our growing confidence even as we recognise that we are still early in this journey. We now do more than 5,100 room nights per day net of cancellations, 4.7 lakh room nights for the quarter, a growth of 3.9x compared to last year and a growth of over 50% versus the comparable Q1 number. In Q2, hotel GTV reached INR111 crores, up 39% sequentially and 2.6x year-on-year. Revenue grew more than six-fold year-on-year to INR8.1 crores, and our gross take rate exceeded 12% and became the highest in our business. Contribution margin improved from minus 55% of revenue a year ago to minus 15%, with a contribution loss of INR 1.2 crores Page 3 of 19 Le Travenues Technology Limited October 19, 2026 this quarter. The reason why our unit economics are able to develop some headroom is that more than 86% of our hotel bookings came from travellers which were already on our platforms or our captive users. Having said that, as we said in the past, we will not be shy about continuing to invest in growing hotels as a strategic category for our business and aspire to remain the fastest-growing OTA in our country in this line of busine [Showing first 8,000 characters — download PDF for full document]