EaseMyTrip Q1: Profit Rises 31 Per Cent, Travel Industry Set For Growth Ahead
The travel booking platform said that the gross booking revenue from hotels and holiday packages surged by 116.6 per cent to Rs 210.7 crore on a year-on-year (YoY) basis
EaseMyTrip Planners on Tuesday reported a 31 per cent climb in the consolidated profit after tax in its first quarter earnings for the current 2024-25 fiscal year (FY25). The travel booking platform logged a profit of Rs 33.93 crore in the April-June quarter in the current fiscal year, against Rs 25.90 crore clocked in the corresponding quarter a year earlier.
The firm’s overall income touched Rs 156.22 crore in the quarter ended June 30, 2024, marking a gain of 23.4 per cent in comparison to Rs 126.64 crore registered in the same quarter last year, its regulatory filing showed.
The company said that it plans to focus on expanding its presence in the country and intends to open 100 additional stores in the current fiscal year.
The gross booking revenue from hotels and holiday packages surged by 116.6 per cent to Rs 210.7 crore on a year-on-year (YoY) basis.
Elaborating on the firm’s performance, Nishant Pitti, co-founder and CEO, EaseMyTrip, said, “EaseMyTrip’s collaboration with Adani Digital Labs (ADL) to offer exclusive duty-free shopping experience to 2 Mn international passengers at seven major international airports in India through our platform was another major partnership we did this quarter. Lastly, we are honoured to have received the MICE Excellence Award at the Starz of India's Awards 2024.”
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Regarding the outlook for the sector, the company said that the travel industry is set to grow further in the coming years backed by a boost in tourism infrastructure and increasing income levels.
“In the hotel industry, customers from tier-II and tier-III cities are expected to also start booking rooms online on account of the convenience offered by online services Ticketing across segments has undergone a change thanks to higher internet penetration, greater affordability of smart phones, user friendliness of online platforms etc. Going forward, online air ticketing is expected to grow further as more travelers (retail as well as corporate) migrate from offline to online platforms,” the firm said.
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