Ixigo Shares Plunge 13% Despite 54% Profit Growth; Massive Selling Hits Stock

• Le Travenues Technology (ixigo) shares fell 13% to Rs 204.90 on January 23, hitting a low of Rs 190.50 during the day.
• The decline occurred despite a 54.11% year-on-year increase in consolidated net profit to Rs 23.95 crore for the October-December 2025 quarter.
• Consolidated revenue from operations grew 31% year-on-year to Rs 317.56 crore for the same quarter.
• The stock has seen a 36% fall in 3 months and 22% in 1 month since its June 2024 listing.
• JM Financial maintains a 'BUY' rating with a target price of Rs 275, citing strong GTV growth and operating leverage.

Why It Matters: Ixigo shares dropped significantly despite strong quarterly profit and revenue growth, driven by massive selling.