EaseMyTrip Records INR 161 Cr Revenue and INR 46 Cr Profit in Q3 FY24

EaseMyTrip logo

Three points you will get to know in this article:

  • EaseMyTrip’s Q3 FY24 showed a 13.5% rise in operational revenue.
  • Profit dipped slightly to Rs 45.68 crore, while expenses increased.
  • The company’s market capitalization exceeded Rs 9,000 crore or $1 billion.

On Friday, EaseMyTrip, the online travel aggregator (OTA) platform, unveiled its financial performance for the final quarter of 2023 (Q3 FY24). The report highlights a commendable uptick in business volume alongside a slight dip in profits for the quarter.

According to the consolidated financial statements filed with the National Stock Exchange, EaseMyTrip witnessed a notable 13.5% surge in operational revenue, reaching Rs 160.8 crore in Q3 of FY24 from the previous quarter’s Rs 141.7 crore (Q2 FY24).

Comparing these figures with the same quarter of the preceding fiscal year (Q3 FY23), the company experienced a substantial 18.1% escalation in operational revenue, climbing from Rs 136.1 crore.

The majority chunk of EaseMyTrip’s revenue, constituting 78%, stemmed from air passage services, which saw a steady 8% growth, reaching Rs 125.7 crore during the quarter. Meanwhile, revenue generated from hotel packages saw an impressive spike of 54%, totaling Rs 20.9 crore. The remainder, amounting to Rs 14.18 crore, was derived from other operational services.

With a boost from non-operating income of Rs 4.52 crore, the company saw its total collections soar to approximately Rs 165.3 crore in the third quarter of fiscal year 2024.

Expense Breakdown

On the spending front, employee benefits took up a notable chunk, accounting for 21% of the company’s overall expenses, marking an 18.5% increase to Rs 22.16 crore for the period. Additionally, there was a significant outlay of Rs 16.47 crore on service costs, covering expenses related to tour packages, buses, and other services.

Further adding to its expenditure, the company allocated Rs 17.48 crore towards advertising and promotional activities, along with Rs 12.95 crore for payment gateway charges during the quarter.

Profit Performance 

Overall, EaseMyTrip saw a considerable uptick in expenses, with a 31.4% rise to Rs 105 crore in the third quarter of fiscal year 2024, up from Rs 79.9 crore in the preceding quarter of the same fiscal year.

When considering the company’s overall performance, there was a slight decrease of 3% in profits, with earnings totaling Rs 45.68 crore in Q3 compared to Rs 46.95 crore in the previous quarter, Q2, of the same fiscal year. In the corresponding quarter of the previous fiscal year, Q3 FY23, the company had reported profits of Rs 41.7 crore.

However, the company’s profit before tax remained steady at Rs 60.26 crore. On an individual unit basis, EaseMyTrip spent Re 0.65 to generate a rupee of revenue in Q3 FY24.

Financial Performance Over Time

For the nine-month period spanning April to December 2024 of FY24, EaseMyTrip achieved revenue from operations totaling Rs 426.5 crore, with a profit of Rs 118.5 crore.

Having debuted on the stock market in March 2021 at Rs 13 per share, EaseMyTrip reached its peak in November 2022 at Rs 66 per share. Currently, its share price hovers around Rs 51, reflecting an impressive growth of nearly 300%. This brings its market capitalization to over Rs 9,000 crore or $1 billion.

In Q3 FY24, EaseMyTrip observed a 13.5% rise in operational revenue to Rs 160.8 crore, primarily driven by air passage services and hotel package sales. Despite a surge in total expenses to Rs 105 crore, the company’s profits dipped by 3% to Rs 45.68 crore. Notably, non-operating income bolstered total collections to approximately Rs 165.3 crore. With a steady profit before tax at Rs 60.26 crore, EaseMyTrip maintained an individual unit cost of Re 0.65 to generate a rupee of revenue. Overall, the company displayed resilient performance, marking significant expansion in market capitalization at over Rs 9,000 crore or $1 billion.

Start typing and press Enter to search

Shopping Cart