Travel-tech platform IntrCity SmartBus reported a 40.1% year-on-year increase in operating revenue to Rs. 690.9 crore in FY26, compared with Rs. 493.2 crore in FY25. However, rising operational expenses pushed its losses up 76% to Rs. 27.9 crore.
According to the company’s consolidated financial statements filed with the Registrar of Companies, total income, including non-operating revenue, reached Rs. 693.6 crore during FY26.
Bus Operations Drive Revenue Growth
Bus operations contributed Rs. 670.35 crore, accounting for approximately 97% of operating revenue. The segment recorded 42.5% growth from Rs. 470.56 crore in FY25. Meanwhile, commission income declined 23.6% to Rs. 14.18 crore from Rs. 18.55 crore. Advertisement revenue nearly doubled to Rs. 2.44 crore from Rs. 1.27 crore.
IntrCity operates an asset-light intercity transportation platform through independent bus operators. It also manages RailYatri, which provides railway travel information and related services.
Operating Expenses Rise 41%
Total expenses increased 41% to Rs. 722.8 crore in FY26 from Rs. 512.2 crore in FY25. Bus operating costs climbed 43.5% to Rs. 539.8 crore, representing nearly 75% of overall expenses. Selling agent commissions increased 51% to Rs. 75.97 crore.
Employee benefit expenses rose 8% to Rs. 49.85 crore, while advertising expenditure reached Rs. 15.9 crore. Consequently, EBITDA losses widened to Rs. 27.69 crore from Rs. 16 crore, with margins deteriorating to negative 4% from negative 3.2%. The company spent approximately Rs. 1.05 to generate every rupee of operating revenue.
Funding and Expansion Outlook
IntrCity raised Rs. 250 crore in a Series D funding round led by A91 Partners in October 2025 to support expansion and technology upgrades. Its cash and bank balances increased to Rs. 49 crore from Rs. 21 crore, while current assets reached Rs. 62.5 crore.
Final Thoughts
IntrCity faces competition from Abhibus, Zingbus, Leafybus and ixigo’s Freshbus. Despite strong revenue growth, increasing operating costs remain a profitability challenge. The company must improve operational efficiency while evaluating RailYatri’s role as AI-powered search changes how travellers access railway information.
Disclaimer : Crypto News India does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
