Online travel service provider Easy Trip Planners Ltd on Friday (May 24) reported a net loss of ₹15 crore for the fourth quarter that ended March 31, 2024.
In the corresponding quarter, Easy Trip Planners posted a net profit of ₹31 crore, the company said in a regulatory filing. The company’s revenue from operations jumped 40.7% to ₹164 crore against ₹116.6 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA rose 16.1% to ₹49.1 crore in the fourth quarter of this fiscal over ₹42.3 crore in the year-ago period. The EBITDA margin stood at 29.9% in the reporting quarter compared to 36.3% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
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In the fourth quarter of FY24, the company’s non-air segment saw robust growth with total hotel night bookings at 1.4 lakh, up 39%. Other bookings increased 53% at 2.7 lakh. For FY24, the hotel night bookings and the other bookings were 5.2 lakh (up 49%) and 10.4 lakh (up 67%), respectively.
Nishant Pitti, CEO and Co-Founder of Easy Trip Planners, said, “In Q4FY24, we acquired a 50% stake in Jeewani Hospitality to develop a luxurious 150-room Radisson Blu hotel in Ayodhya, expanding our portfolio with high-quality hospitality offerings to 1.5 lakh daily visitors. We diversified our business and expanded our services to better serve our customers by launching a new subsidiary, EaseMyTrip Insurance Broker Private Limited, marking our entry into the ₹7.9 trillion insurance industry.”
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The results came after the close of the market hours. Shares of Easy Trip Planners Ltd ended at ₹44.16, down by ₹1.15, or 2.54%, on the BSE.
