Online travel booking platform Easy Trip Planners Ltd on Thursday (November 14) reported a 45.2% year-on-year (YoY) decline in net profit at ₹25.8 crore for the second quarter that ended September 30, 2024. In the corresponding quarter of the previous fiscal, Easy Trip Planners posted a net profit of ₹47 crore.
Revenue from operations increased 2% to ₹144.6 crore against ₹141.6 crore in the year-ago period.
At the operating level, EBITDA tanked 42.8% to ₹37 crore in the second quarter of this fiscal over ₹64.5 crore in Q2 of FY24.
The EBITDA margin stood at 25.5% in the reporting quarter versus 45.6% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
Easy Trip reported gross booking revenue (GBR) of ₹2,075.6 crore in Q2 FY25. The hotel segment saw substantial growth, with GBR reaching ₹241.4 crore, marking a 178.4% YoY increase. The trains, buses & others segment recorded a GBR of ₹40.7 crore, reflecting a 19.4% YoT rise.
Additionally, the company’s Dubai operations generated a GBR of ₹172.5 crore, showing strong YoY growth of 371.3%. Cash flows from operations remained strong at ₹58 crore for the quarter.
The company also launched Easy Green Mobility, a wholly-owned subsidiary focused on manufacturing electric buses, aiming to capture market share in India's electric bus sector, which is projected to grow at a CAGR of 24% from 2024 to 2030.
Nishant Pitti, Co-Founder and CEO of Easy Trip Planners, said, "Our Q2 FY25 results reflect sustained growth across diversified segments. Gross booking revenue reached INR 20,756 million, with revenue from operations up 2.1% year-over-year to INR 1,447 million. The non-air business segments have been key drivers of growth this quarter, demonstrating our successful diversification strategy."
The results came after the close of the market hours. Shares of Easy Trip Planners Ltd ended at ₹30.13, up by ₹0.070, or 0.23%, on the BSE.
