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Online travel aggregator (OTA) platform EaseMyTrip on Friday announced its financial results for the quarter ending December 2023 (Q3 FY24). The results show a decent growth in scale and a marginal decline in profit during the quarter.
EaseMyTrip ’s revenue from operations increased 13.5% to Rs 160.8 crore in Q3 of FY24 from Rs 141.7 crore in the last quarter (Q2 FY24), as per its consolidated financial statements with the National Stock Exchange.
When compared to the third quarter of the previous fiscal year (Q3 FY23), its revenue from operations rose 18.1% from Rs 136.1 crore.
EaseMyTrip collected 78% of its revenue from air passage which grew 8% to Rs 125.7 crore during the quarter while revenue from hotel packages spiked 54% to Rs 20.9 crore. The remaining Rs 14.18 crore was generated via other operating services.
Including non-operating income of Rs 4.52 crore, the company’s overall collection approached Rs 165.3 crore in Q3 FY24.
On the expense side, employee benefits expenses accounted for 21% of the overall spendings which went up 18.5% to Rs 22.16 crore during the period. It spent Rs 16.47 crore on service costs which represent the cost of tour packages, bus and other services.
The company also incurred advertising – promotion and payment gateway charges worth Rs 17.48 crore and Rs 12.95 crore in the quarter.
In total, EaseMyTrip’s overall expenses rose 31.4% to Rs 105 crore in Q3 FY24 from Rs 79.9 crore during Q2 of the same fiscal year.
When it comes to the bottom line, the company’s profits marginally decreased (3%) to Rs 45.68 crore in Q3 as compared to Rs 46.95 crore in Q2 of the same fiscal year. In Q3 FY23 (previous fiscal year), the company had posted Rs 41.7 crore profits.
Whereas, the company’s profit before tax stood at Rs 60.26 crore. On a unit level, EaseMyTrip spent Re 0.65 to earn a rupee in Q3 FY24.
For the nine months period (Apr-Dec 2024) of FY24, EaseMyTrip posted Rs 426.5 crore revenue from operations with a profit of Rs 118.5 crore.
Listed in March 2021 at Rs 13 per share, EaseMyTrip saw its peak in November 2022 at Rs 66 per share. With nearly 300% growth, its current price is roaming around Rs 51 a piece with a market cap of over Rs 9,000 crore or $1 billion.
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