Easy Trip Planners Sees 22% Drop in Q1FY24 Profits, Amounting to Rs 26 Crore
- ByStartupStory | August 15, 2023
Easy Trip Planners Ltd., operating as EaseMyTrip, reported a 21.82% drop in consolidated net profit for the June quarter, amounting to Rs 25.9 crore. In comparison, the year-ago quarter had seen a consolidated net profit of Rs 33.13 crore. However, the previous quarter (Q4FY23) witnessed a 33.5% surge in net profit to Rs 31.15 crore due to increased post-pandemic travel demand.
Consolidated revenue from operations for the current fiscal’s first quarter was Rs 124.05 crore, a rise from Rs 87.58 crore the previous year. The company’s total expenses increased to Rs 91.56 crore from Rs 47 crore during the same period last year. Notably, Easy Trip Planners recently partnered with SpiceJet and acquired stakes in Guideline Travels Holidays, Dook Travels, and Tripshope Travel Technologies.
Additionally, the company expanded by opening an offline retail store in Patiala, Punjab, following similar launches in Patna, Surat, and Jaipur.
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