EaseMyTrip clocks 339% revenue growth at Rs 437mn

Hyderabad Easy Trip Planners Ltd (EaseMyTrip) reported a strong revenue growth from operations of 339.3 per cent y-on-y at Rs 437 million. The gross bookings stood at 8,950 million which was 164 per cent up on y-o-y basis and 151 per cent up increase on q-on-q basis.

The company reported net profit of Rs 271 million, a growth of 340.2 per cent y-o-y with a net margin of 62.1 per cent, which works out to EPS of Rs 2.5 per share for the quarter.

The EBITDA from operations for the quarter ended September 30, 2021 improved y-o-y to Rs 208 million with an operating margin of 47.6 per cent.

This growth also represents a strong recovery of India's travel sector that was severely affected due to pandemic. The management is confident to achieve sustainable business growth in the coming quarters as well.

The company is going to acquire Traviate, a 100% technology driven platform. Traviate lists more than 1.2 million hotels and has enabled more than 2,00,000 transactions till date. This acquisition will add a new revenue stream and enable EaseMyTrip to do B2B hotel and holiday transactions.

The company has also expanded its wings globally to countries like Philippines, Thailand, and USA. The company anticipate a huge pent-up demand across the globe and these expansions will aid in rooting the Ground in the international markets.

The company has multiple tie-ups with banks to cross-sell each other's products and leverage brand strength for both the parties. It is also engaging with multiple banks and e-wallet companies to provide additional benefits to customers for engaging with them and making them stick to its portal.