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Business News/ Companies / Company Results/  EaseMyTrip Q3 results: Net profit rises by 9.5% to 45.7 crore; EBITDA grows to 65.4 crore
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EaseMyTrip Q3 results: Net profit rises by 9.5% to ₹45.7 crore; EBITDA grows to ₹65.4 crore

Online travel services provider EaseMyTrip reported a 9.5% rise in net profit to ₹45.7 crore in Q3 FY24. Its net consolidated revenue increased by 18.1% YoY to ₹160.8 crore.

Ease My Trip Q3: The online travel operator reported a 9.5% rise in its net profitPremium
Ease My Trip Q3: The online travel operator reported a 9.5% rise in its net profit

EaseMyTrip Q3 results: Online travel services provider EaseMyTrip, on Friday, reported a 9.5% rise in its net profit to 45.7 crore in Q3 FY24 against 41.2 crore in the year-ago period. 

Its net consolidated revenue increased by 18.1% YoY to 160.8 crore in the quarter ending December against 136 crore in Q3 FY23. Its EBITDA increased to 65.3 crore during the quarter under review.

On Friday, the shares of the company, registered as Easy Trip Planners, closed 3.07% lower at 50.84 per share. 

During the quarter under review, EaseMyTrip acquired a stake of around 13% in ECO Hotels and Resorts, diversifying its portfolio beyond online travel services. Recently, the company has also signed a Memorandum of Understanding (MOU) during the Global Investors Summit in London. The MOU also includes joint marketing campaigns targeting key locations like the UK/Europe, Middle East, Asia, and USA/Canada, to boost Uttarakhand tourism.

EaseMyTrip Q3: Segment-wise performance

Talking about its segment-wise performance, the air segment bookings declined by 29.7% to 22.6 lacs. The hotel night bookings reduced by 4.1% to  91,915 during the quarter under review. Bookings by EaseMyTrip in the others segment increased by 82.5% to 2,70,980, contributing 1.9% to the GBR. However, the gross booking revenue of the online platform declined by 10.6% to 2,026.0.7 crore.

"In Q3 FY24, we diversified our portfolio by acquiring a 13% stake in ECO Hotels and Resorts and signed an MOU with the Government of Uttarakhand. We also introduced EasyDarshan, offering hassle-free pilgrimage packages, and launched “Explore Bharat" to showcase India's rich heritage to international travellers. Our exclusive subscription program, the EaseMyTrip Platinum, Gold, and Silver Cards, provides luxury travel experiences to HNIs," said, Nishant Pitti, Co-founder and CEO of Easy Trip Planners.

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Published: 09 Feb 2024, 09:26 PM IST
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