Fri, 07 Oct 2022

Mumbai (Maharashtra) [India], August 3 (ANI/PNN): Nomura Singapore Ltd. has picked up a stake in Easy Trip Planners Ltd. (BSE: 543272, NSE: EASEMYTRIP). As per bulk deal data on NSE, Nomura Singapore Ltd has purchased 11,50,000 shares of Easy Trip Planners Ltd. on 02 August at an average price of Rs 399.

Meanwhile, the company has commenced its fiscal year as it remains profitable, which has been a principle since its inception. This quarter, yet again, marks a huge milestone for EaseMyTrip. EaseMyTrip celebrated its 14th year of existence, which indeed is a pride moment for the brand.

The company celebrated its anniversary with the customers by announcing a mega sale and offering discounts as a testimonial to them. EaseMyTrip has always been a customer-centric company where the customers are always at the receiving end and has focused on efficiently catering to the rising needs of the market, which is why the brand keeps innovating and has launched a Co-branded credit card with Standard Chartered to allow the cardholders to avail multi-benefits while using their services.

EaseMyTrip announced positive Q1 FY2023 results, reporting a profit jump by 125 per cent YoY and 45.36 per cent QoQ. The company did not only join the elite club of India's first 100 unicorns last fascial while remaining bootstrapped and consistently profitable but has also grown in Gross Booking Revenue ( GBR ) this quarter by 366 per cent to INR 1,663.1 crore from INR 356.7 crore as compared with Q1 FY22 and Profits After Tax ( PAT ) by INR 33-7 crore from INR 14.9 crore Y - O - Y in Q1 FY23. In spite of the challenges that came while the travel and tourism industry is reviving from the pandemic, EaseMyTrip has been instrumental in generating remarkable profits and reflecting resilience and strong fundamentals, which have earned the trust of its stakeholders as well.

"We are witnessing the golden era for the Indian OTAs as the travel and aviation industry is showing an upward growth trajectory. With significant support from the government, the industry is set to reach ultimate heights due to the growing demand. As a result, EaseMyTrip is prepared to continue its dream run of delivering consistent profits while supporting the revival of the travel ecosystem".

The company cites its entry to the new market - New Zealand, by incorporating a wholly-owned foreign subsidiary, apart from its other subsidiaries in the Philippines, Thailand, Singapore, The UAE, the UK, and the USA.

With this respect, EaseMyTrip has achieved Dubai expansion and marked a cumulative GMV of 70.74 mn in just three months. Through partnerships and agreements with the Tourism Boards and other brands, EaseMyTrip is moving towards the strong recovery of the industry and ensuring the current pent-up demand is utilised efficiently by engaging in operational and performance excellence.

After a key foothold in the air ticket segment, EaseMyTrip is focused on expanding its non-air verticals this fiscal. In the coming quarters, EaseMyTrip aims to continue its growth across the air ticketing segment and expand its hotels and holidays segments too. To continue the efforts for global expansion, the company will further keep looking at profitable markets.

This story is provided by PNN. ANI will not be responsible in any way for the content of this article. (ANI/PNN)

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