EaseMyTrip Q3 results: Net profit rises by 9.5% to ₹45.7 crore; EBITDA grows to ₹65.4 crore
₹45.7 crore in Q3 FY24 against ₹41.2 crore in the year ago period. Its net consolidated revenue increased by 18.1% YoY to ₹160.8 crore in the quarter ending December against ₹136 crore in Q3 FY23. Its EBITDA increased to ₹65.3 crore during the quarter under review.
On Friday, the shares of the company, registered as Easy Trip Planners, closed 3.07% lower at ₹50.84 per share. During the quarter under review, EaseMyTrip acquired a stake of around 13% in ECO Hotels and Resorts, diversifying its portfolio beyond online travel services. Recently, the company has also signed a Memorandum of Understanding (MOU) during the Global Investors Summit in London.
The MOU also includes joint marketing campaigns targeting key locations like UK/Europe, Middle East, Asia, USA/Canada, to boost Uttarakhand tourism. Talking about its segment-wise performance, the air segment bookings declined by 29.7% to 22.6 lacs. The hotel nights bookings reduced by 4.1% to 91,915 during the quarter under review.
Bookings by EaseMyTrip in the others segment increased by 82.5% to 2,70,980, contributing 1.9% to the GBR. However, the gross booking revenue of the online platform declined by 10.6% to ₹2,026.0.7 crore. "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.
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