Online travel service provider Easy Trip Planners Ltd on Friday (February 9) reported a 9.6% year-on-year (YoY) increase in net profit at ₹45.7 crore for the third quarter that ended December 31, 2023.
In the corresponding quarter last year, Easy Trip Planners posted a net profit of ₹41.7 crore, the company said in a regulatory filing. The company's revenue from operations increased 18.1% to ₹160.8 crore against ₹136.1 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA increased 10.5% to ₹60.9 crore in the third quarter of this fiscal over ₹55.1 crore YoY.
THE EBITDA margin stood at 37.9% in the reporting quarter against 40.5% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
The air segment bookings declined by 29.7% to 22.6 lakh, representing 90.2% of the gross booking revenue (GBR). Hotel night bookings were 91,915, a decrease of 4.1% and contributing 7.9% to the GBR.
Bookings in the others segment rose by 82.5% to 2,70,980, contributing 1.9% to the GBR. The gross booking revenue declined by 10.6% to ₹2,026.07 crore, the company said.
Nishant Pitti, Co-Founder and CEO of Easy Trip Planners, said, "In Q3 FY24, we diversified our portfolio by acquiring a 13% stake in ECO Hotels and Resorts and signed an MoU with the government of Uttarakhand. We also introduced EasyDarshan, offering hassle-free pilgrimage packages, and launched 'Explore Bharat' to showcase India's rich heritage to international travellers."
The results came after the close of the market hours. Shares of Easy Trip Planners Ltd ended at ₹50.84, down by ₹1.61, or 3.07% on the BSE.
(Edited by : Shoma Bhattacharjee)
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