EaseMyTrip, India’s 2nd largest travel portal in India, has reported another strong quarter, with PAT of 47.2 Cr (YoY growth of 67.2%).
– EaseMyTrip’s gross booking revenue for Q2FY24 is INR 2026 Cr (YoY growth of 2.4%) & adjusted revenue reached Rs 213 Cr (YoY growth of 25.7%)
– EaseMyTrip continues be amongst handful profitable new age companies by finishing Q2FY24 with a Profit Before Tax (PBT) of INR 64.7 Cr as compared to the INR 38.8 Crores in same quarter last year
– The company has launched its in-house Smart Voice Recognition Technology, powered by advanced AI and ML. This innovative voice assistance tool revolutionizes travel booking.
– During the quarter, the company has expanded its presence in northern part of India by opening new franchise stores in Ludhiana, Jalandhar, Delhi and Agra. They aim to offer tailored travel experiences, increase business scalability, and reach offline customers.
– EaseMyTrip acquired (51% stake) of three companies – Guideline Travel – leading cruise provider; TripShope Travel – leading travel and leisure solution provider in Kashmir; and Dook Travels – Travel service provider which operates across Central Asian countries, Turkey, the UAE and India
– EaseMyTrip also teamed up with DuDigital Global Limited, a top global technology company, to enhance and streamline administrative processes related to visa & passports.
Q2 Presentation: https://www.bseindia.com/xml-data/corpfiling/AttachLive/c86340a5-a443-4de3-b8ca-e90fb6d99d28.pdf
Other Points on EaseMyTrip
– EaseMyTrip bootstrapped its way to IPO in Mar’21 and is amongst handful profitable new age companies.
– EaseMyTrip is the only OTA with complete in-house technology & call-center; which helps in being lowest cost OTA
– Healthy balance sheet with Cash & FDR of Rs 290 Cr, which provides flexibility and war chest for investing in growth avenues.
– EaseMyTrip is adding new travel related business verticals inorganically; with a thought process of acquiring only travel related businesses which are asset light, tech-based & synergistic.