Easy Trip shares soar 14% as stock trades ex-date for 1:1 bonus shares. Do you own?

Easy Trip share price surged nearly 14 per cent during morning trade on Friday, November 29, as the stock turned ex-bonus.

In an exchange filing last Friday, the company informed that it had revised the record date for the bonus shares to Friday, November 29, 2024, considering the trading holiday on November 20.

The company's board of directors on October 14 approved the issue of bonus shares in the ratio of 1:1, meaning one bonus share will be issued for every fully paid-up equity share.

"EaseMyTrip.com has approved the issuance of 1 (one) bonus equity share for every 1 (one) fully paid-up equity share, as per the decision of the board meeting held today. The bonus shares will be issued from the company's available reserves as of March 31, 2024," said the company.

"The total number of shares to be issued is 1,77,20,40,618 at a face value of ₹1 each. The issuance will be financed using ₹1,772.04 million from the company's available reserves of ₹3,973.96 million. After the bonus, the total share capital will stand at ₹3,544.08 million, reflecting the company's growth and its commitment to rewarding shareholders," the company said.

According to the BSE data, it was the third time the company issued bonus shares to its shareholders. In the past, it issued bonus shares in the ratio of 1:1 on February 28, 2022, and in the ratio of 3:1 on November 21, 2022.

Meanwhile, the company reported a decent September quarter (Q2FY25) earnings.

According to the exchange filing, for Q2FY25, its revenue from operations rose 21 per cent year-on-year to ₹1,447 million. EBITDA came at ₹423 million, a margin of 28.2 per cent and the profit after tax (PAT) was ₹259 million, a margin of 17.3 per cent.

Furthermore, the gross booking revenue (GBR) for the quarter was ₹20,756 million. GBR from hotel nights reached 2,414 million, marking a 178.4 per cent YoY growth, while revenue from other bookings grew by 19.4 per cent to 407 million.

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