India's Ixigo slides as brokerages flag margin pressure despite quarterly profit
BUZZ-India's Ixigo slides as brokerages flag margin pressure despite quarterly profit ** Shares of India's Le Travenues Technology LETR.NS, operator of travel platform Ixigo, fall 6.42% to 147 rupees
** Stock on track for biggest intraday pct drop since September 2, 2025
** Co posts Q2 consolidated net profit of 612.5 million rupees ($6.47 million) compared with loss of 31.7 million rupees a year ago; revenue rises 12.9% y/y
** JM Financial ("reduce"; cuts TP to 155 rupees from 165 rupees) says weaker flight monetisation and continued investments in hotels weighed on profitability despite 22% y/y growth in gross transaction value
** Motilal Oswal ("neutral",TP:180 rupees) says aggressive investments in hotels and technology weighed on margins and earnings, with Q2 EBITDA of 181 million rupees missing its estimate of 296 million rupees
** YTD stock down 42.36%
($1 = 94.6275 Indian rupees)
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
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