Online travel aggregator (OTA) EaseMyTrip has reported a 13.5 per cent increase in revenue from operations, reaching ₹160.8 crore in Q3 FY24, compared to ₹141.7 crore in the preceding quarter. In a y-o-y comparison with Q3 FY23, the growth amounted to a substantial 18.1 per cent, up from ₹136.1 crore.
EaseMyTrip’s CEO, Nishant Pitti, expressed optimism about the future, stating, “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.”
Revenue breakdown
The revenue breakdown revealed that 78 per cent of the total earnings were attributed to air passage, registering an 8 per cent growth to ₹125.7 crore. Hotel packages contributed significantly, with a remarkable 54 per cent spike, amounting to ₹20.9 crore. The remaining ₹14.18 crore was generated through other operating services.
The company’s overall collection, including non-operating income of ₹4.52 crore, reached ₹165.3 crore in Q3 FY24.
On the expenditure side, employee benefits expenses constituted 21 per cent of the overall spending, rising by 18.5 per cent to ₹22.16 crore. Additionally, the company allocated ₹16.47 crore to service costs, covering tour packages, buses and related services. Advertising-promotion and payment gateway charges stood at ₹17.48 crore and ₹12.95 crore, respectively.
Despite a 31.4 per cent surge in overall expenses to ₹105 crore, the company’s bottom line experienced a marginal 3 per cent decrease, settling at ₹45.68 crore in Q3, compared to ₹46.95 crore in the previous quarter.
The profit before tax for Q3 FY24 stood at ₹60.26 crore and EaseMyTrip spent ₹0.65 to earn a rupee during this period.
For the cumulative nine months (April to December 2024) of FY24, EaseMyTrip posted a revenue of ₹426.5 crore from operations, accompanied by a profit of ₹118.5 crore.
Since its listing in March 2021 at ₹13 per share, EaseMyTrip’s stock witnessed significant growth, reaching its peak at ₹66 per share in November 2022. Presently, the stock is trading at around ₹51 per share, reflecting a nearly 300 per cent growth, with a market cap exceeding ₹9,000 crore or $1 billion.