EaseMyTrip posts 18% revenue growth in Q3, achieves Rs 45.6 crore profit

EaseMyTrip Q3: Online travel aggregator EaseMyTrip, operated by Easy Trip Planners Pvt Ltd, has reported robust financial results for the third quarter of the fiscal year 2023-24, showcasing significant growth in both revenue and profit margins. The company's after-tax profit has surged by 9.5 per cent year-on-year (YoY), reaching an impressive Rs 45.6 crore.

In terms of revenue, EaseMyTrip recorded a noteworthy 18.1 per cent increase, generating Rs 160 crore during Q3 FY24 compared to Rs 136 crore in the corresponding period last year. The gross booking revenue for the quarter also witnessed a substantial rise, amounting to Rs 2,026 crore, further highlighting the platform's strong market presence and customer engagement.

However, alongside the impressive revenue growth, the company also witnessed a rise in total expenses, which stood at Rs 105 crore in Q3 FY24, marking a notable 27.2 per cent increase from Rs 85.2 crore in the previous year. Notably, employee benefit expenses emerged as the most significant cost factor, totaling Rs 22.1 crore in the latest quarter, representing a substantial 55.6 per cent increase from the year-ago period.

Despite the rise in expenses, EaseMyTrip managed its payment gateway charges, reducing them by 19.3 per cent YoY to Rs 13 crore in the current fiscal, compared to Rs 15.4 crore in the corresponding period last year.

During Q3 FY24, EaseMyTrip facilitated a total of 22.6 lakh air bookings (after cancellations), along with 91,915 hotel night bookings and 2.7 lakh other bookings. Over the first nine months of the fiscal year, the platform sold 83.7 lakh air tickets (net of cancellations), accompanied by 3.8 lakh hotel night bookings and 7.7 lakh other bookings, indicating sustained customer engagement across various travel segments.

In a regulatory filing, the company stated its vision for future growth, including a focus on expanding the air ticketing business and strengthening its presence in non-air segments such as hotels, holidays, and transportation on a global scale. Additionally, EaseMyTrip reiterated its commitment to expanding retail footprints domestically and exploring both organic and inorganic growth opportunities.

In December, EaseMyTrip made a strategic investment by acquiring a stake of approximately 13 per cent in the ECO Hotels and Resorts chain, further diversifying its portfolio and strengthening its position in the hospitality sector.