Multibagger stock to mull bonus shares, stock split decision next week. Details inside
The stock has given multibagger return of more than 290% since its listing in March 2021
PremiumEasy Trip Planners Ltd's its board will meet next week on Monday, October 10, 2022 to consider the proposal for the issue of bonus equity shares of the company and/or sub division of share (or stock split). EaseMyTrip provides travel agents access to its website to book domestic travel airline tickets in order to cater to the offline travel market in India.
“Please be informed that a meeting of the Board of Directors of the Company is scheduled to be held on Monday, October 10, 2022, at 10:00 A.M through video conferencing for considering the proposal for increase in Authorised Share Capital, issue of bonus shares and/or Sub-division/Split of Share," Easy Trip informed in an exchange filing earlier this week.
Easy Trip Planners shares are up nearly 51% in 2022 (year-to-date or YTD) so far and the stock has given multibagger return of more than 290% since its listing in March 2021.
A stock split increases the number of shares that are outstanding by issuing more shares to the current shareholders. Stock split decreases the market price of the individual shares, however, does not result in changing the market capitalization of the company. Meanwhile, bonus shares are fully paid additional shares issued by a company to its existing shareholders.
The online travel service provider Easy Trip Planners Ltd reported an over two-fold rise in consolidated net profit at ₹33 crore for the first quarter ended June 2022 on accelerated travel activities as the pandemic-induced restriction eases, as compared to ₹15 crore in the year-ago period.
Consolidated revenue from operations during the quarter under review stood at ₹87 crore as against ₹31 crore last year. Air passage segment clocked revenue of ₹79 crore, up from ₹31 crore YoY. Hotel packages vertical registered revenue of ₹7 crore in Q1 FY23 against an outgo of ₹27 lakh a year ago.
The company had said that it is focused on expanding its non-air verticals this fiscal, while also aiming to grow across the air ticketing segment and expand in hotels and holidays segments too in the coming quarters.
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