Online travel ticket booking platform EaseMyTrip, operated by Easy Trip Planners Ltd, has reported a strong financial recovery in the first quarter of fiscal year 2025 (Q1 FY25).
The online travel booking platform posted a profit after tax (PAT) of Rs 33.93 crore, up 31 per cent from the profit of Rs 25.9 crore posted in the same quarter of the previous fiscal year (Q1FY24).
Revenue growth
EaseMyTrip’s operating revenue grew 23.34% year-on-year to Rs 156.12 crore in Q1FY25, up from Rs 126.46 crore in Q1FY24.
Growth was driven by the company’s strong performance in the Middle East market, particularly in Dubai.
Co-founder Prashant Pitti highlighted the potential of the Middle East market, saying, “Management is spending a good amount of time on Middle East operations, which is a huge and still very untapped market.”
Challenges and expenses
Despite positive revenue growth, EaseMyTrip faced some challenges during the quarter. The company’s total expenses rose 19% to Rs 109.03 crore, from Rs 91.56 crore in the previous year.
Notably, the company incurred a one-time expense of Rs 72.4 crore related to “cancelled advances to suppliers” due to the closure of Go Airlines. The increase in expenses slightly offset the overall earnings growth, but the company managed to maintain profitability.
Impact on non-airline business segments
EaseMyTrip also reported significant growth in its non-airline business segments, particularly in hotel bookings and holiday packages.
Gross booking revenue from these segments increased 116.6% year-on-year to Rs 210.7 crore in Q1FY25.
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