Mumbai, November 13, 2023: Easy Trip Planners (BSE: 543272 | NSE: EASEMYTRIP), announced its Q2 FY24 results. The company presents an extensive spectrum of travel-centric services, adeptly meeting the demands of passengers globally. Offering an array of tools and services, they enable customers to efficiently research, plan, and avail travel-related services, both within India and Internationally.
Q2 FY24 Performance Highlights
· Air segment bookings rose by 2.3% YoY to 29.0 Lacs
· Hotel nights bookings surged to 1,24,862, marking a 60.2% YoY increase
· Bookings in the Others segment increased by 98.5% YoY to 2,72,600
· Gross Booking Revenue reached INR 20,255.8 million, up 2.4% YoY from INR 19,776.9 million
· EBITDA registered a 68.1% growth, at INR 676.5 million
· PAT was INR 471.8 million, up by 67.2% YoY
H1 FY24 Performance Highlights
· Air segment bookings increased by 20.4% YoY to 61.1 Lacs
· Hotel nights bookings increased to 2.9 Lacs, marking a 90.5% YoY increase
· Bookings in the Trains, Buses & Others segment grew by 66.8% YoY to 5.0 Lacs
· Gross Booking Revenue was INR 43,965.4 million, a 20.8% YoY increase from INR 36,407.5 million
· EBITDA was INR 1,051.5, registering a 22.7% growth YoY
· PAT amounted to INR 732.0 million, reporting a 19.3% YoY growth
Announcing the results, Nishant Pitti, Co-founder & CEO of Easy Trip Planners, commented:
I am delighted to report that our Q2FY24 Profit After Tax surged to Rs. 471.8 million, a 67.2% increase compared to the same quarter in the previous year. With a similar trajectory, our H1FY24 Profit After Tax reached Rs. 732.0 million, a substantial 19.3% growth year-on-year.
Despite the lean period in the travel industry during Q2FY24, Easy Trip Planners delivered an strong performance where we recorded Gross Booking Revenue of Rs. 20,255.8 million. Furthermore, Revenue from Operations rose to Rs. 1,416.9 million, a robust 30.6% year-on-year growth and a 14.2% increase from the previous quarter.
Strategic acquisitions of Guideline Travel, TripShope Travel and Dook Travels shall boost growth for EaseMyTrip by offering niche services to a vast customer base. These companies are well known and have expertise in different sectors of the travel industry. Additionally, collaboration was with DuDigital Global Limited will help in administrative services, visa, passport, and identity management. Additionally, the company has joined forces with BluSmart, India’s premier all- electric ride-hailing service and EV charging superhub operator. This eco-conscious alliance is geared towards providing sustainable travel solutions, representing an achievement in promoting environmentally friendly mobility.
Q2 FY24 Consolidated Performance Highlights
Consolidated
Q2
Y-o-Y
Q1
Q-o-Q
H1
Y-o-Y
(Rs. Mn)
FY24
FY23
FY24
FY24
FY23
Revenue from Operations
1,416.9
1,085.0
30.6%
1,240.5
14.2%
2,657.5
1,960.8
35.5%
Total Income
1,445.7
1,120.7
29.0%
1,266.4
14.2%
2,712.1
2,035.3
33.3%
EBITDA
676.5
402.4
68.1%
375.0
80.4%
1,051.5
856.9
22.7%
EBITDA Margin%
46.8%
35.9%
29.6%
38.8%
42.1%
PBT
646.5
388.1
66.6%
350.8
84.3%
997.3
832.4
19.8%
PBT Margin%
44.7%
34.6%
27.7%
36.8%
40.9%
PAT
471.8
282.2
67.2%
260.2
81.3%
732.0
613.5
19.3%
PAT Margin%
32.6%
25.2%
20.5%
27.0%
30.1%
