Easy Trip Planners (BSE: 543272 | NSE: EASEMYTRIP), announced its Q3 and 9M FY24 results. The company presents an extensive spectrum of travel-centric services, adeptly meeting the demands of passengers journeying domestically and internationally. Offering an array of services, they enable customers to efficiently search, plan, and procure travel-related services, both within India and Internationally.
Q3 FY24 vs Q3 FY23 Performance Highlights
- The air segment bookings declined by 29.7% to 22.6 Lacs and representing 90.2% of the GBR
- Hotel nights bookings were 91,915, a decrease of 4.1% and contributing 7.9% to the GBR
- Bookings in the Others segment rose by 82.5% to 2,70,980, contributing 1.9% to the GBR
- The Gross Booking Revenue declined by 10.6% to INR 20,260.7 million
- EBITDA reached to INR 653.7 million, a 10.9% increase
- PAT was at INR 456.6 million, increased by 9.5%
9M FY24 vs 9M FY23 Performance Highlights
- The air segment bookings increased by 1.0% at 83.7 lacs, contributing 92.9% to the GBR
- Hotel nights bookings contributed 5.3% to the GBR and had a significant increase of 53.5% to 3,77,049
- The Trains, Buses, and Others segment contributed 1.8% to the GBR, grew by 72.0% to 7,67,729
- Gross Booking Revenue reached INR 64,226.0 million, an increase of 8.7%
- EBITDA amounted to INR 1,705.2 million, a growth of 17.9%
- PAT grew by 15.3% to INR 1,188.6 million
Announcing the results, Nishant Pitti, Co-founder and CEO of Easy Trip Planners, commented:
We're pleased to announce that our Q3FY24 PAT reached INR 456.6 million, a 9.5% Y-o-Y increase, demonstrating our commitment to profitability. Similarly, our 9MFY24 PAT grew by 15.0% Y-o-Y to INR 1,188.6 million. GBR for Q3FY24 and 9MFY24 stood at INR 20,260.7 million and INR 64,226.0 million, respectively.
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.
Furthermore, our exclusive subscription program, the EaseMyTrip Platinum, Gold, and Silver Cards, provides luxury travel experiences to HNIs. These initiatives underscore the company's continuous expansion of services, catering to niche customer segments. Additionally, I am pleased to share that ET Travel World Awards has recognized EaseMyTrip as the Online Travel Marketplace of the Year (B2C).
Looking ahead, we're intensifying efforts to grow our air ticketing business and enhance our presence in non-air segments such as hotels, holidays, and transportation on a global scale. Also, we are expanding our retail footprints domestically and exploring both organic and inorganic growth opportunities. These initiatives are aligned with our ongoing commitment to driving continued growth, providing comprehensive travel solutions, and ensuring a seamless experience for our customers. |
