top of page

EaseMyTrip Soars with Rs 161 Cr Revenue, Records Marginal Profit Dip in Q3 FY24


Online travel aggregator EaseMyTrip has unveiled its financial performance for the quarter ending December 2023 (Q3 FY24), revealing notable growth in scale alongside a slight decline in profits.


According to its consolidated financial statements filed with the National Stock Exchange, EaseMyTrip witnessed a 13.5% increase in revenue from operations, reaching Rs 160.8 crore in Q3 FY24 from Rs 141.7 crore in the previous quarter (Q2 FY24). In comparison to Q3 FY23, the revenue from operations saw a robust 18.1% rise from Rs 136.1 crore.


The majority of EaseMyTrip's revenue, accounting for 78%, stemmed from air passage, experiencing an 8% growth to Rs 125.7 crore during the quarter. Additionally, revenue from hotel packages surged by 54% to Rs 20.9 crore, with the remaining Rs 14.18 crore generated from other operating services. Including non-operating income of Rs 4.52 crore, the company's total collection reached Rs 165.3 crore in Q3 FY24.


On the expenditure front, employee benefits expenses represented 21% of the overall spendings, increasing by 18.5% to Rs 22.16 crore during the period. The company also allocated Rs 16.47 crore towards service costs, which include expenses related to tour packages, bus services, and others. Advertising-promotion and payment gateway charges amounted to Rs 17.48 crore and Rs 12.95 crore respectively.


Overall, EaseMyTrip's expenses surged by 31.4% to Rs 105 crore in Q3 FY24 from Rs 79.9 crore in Q2 FY24.


Despite the revenue growth, the company's profits witnessed a marginal decline of 3% to Rs 45.68 crore in Q3 FY24 compared to Rs 46.95 crore in Q2 FY24. However, in Q3 FY23, EaseMyTrip posted profits of Rs 41.7 crore. The company's profit before tax stood at Rs 60.26 crore, with a unit-level expenditure of Re 0.65 to earn a rupee in Q3 FY24.


For the nine-month period (April-December 2024) of FY24, EaseMyTrip reported revenue from operations of Rs 426.5 crore, with a profit of Rs 118.5 crore.


Listed in March 2021 at Rs 13 per share, EaseMyTrip witnessed a peak in November 2022 at Rs 66 per share. Currently trading at around Rs 51 per share, with a market cap exceeding Rs 9,000 crore or $1 billion, the company continues to demonstrate substantial growth potential.


Comments


bottom of page