Easy Trip Planners Limited, which runs the travel aggregator EaseMyTrip, gained on Monday after it won the badge of official travel partner at the World Padel League 2023.
The stock was up 3.60 percent to Rs 44.65 at 1.26pm on the National Stock Exchange. The volume is 5 times that of its 20-day average volume of around 43 lakh.
“The entire association will provide visibility to the brand during live matches, allowing it to reach millions of Padel fans and viewers,” said the company in an exchange filing.
Easy Trip Planners is down 15 percent since the start of the year. The travel platform's net profit increased 33 percent to Rs 31.2 crore for the January to March quarter. The company’s operating profit margin fell by 1,100 basis points in the same quarter. It touched a 52-week high of Rs 219 and a 52-week low of Rs 39.
EaseMyTrip’s subsidiary, EaseMyTrip.ae announced the appointment of Sameer Bagul as its Managing Director for the Middle East business on June 7.
The company is increasing its visibility by becoming partners in various sports championships. EaseMyTrip entered into an advertisement agreement with Capri Global Holdings, which own the franchise rights for UP Warriorz in the Women’s Premier League. This agreement will last for five years beginning first season held in March. Easy Trip Planners became the associate sponsor for the IBA Women’s World Championship 2023. EaseMyTrip also became the associate sponsor for the Chennai Blitz in the Prime Volleyball League.
Lean cost model and no convenience fee strategy would support rapid, profitable growth, said analysts. The company’s expansion in the UAE, Thailand, US and the Philippines is expected to boost revenues, according to analysts.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.