EaseMyTrip FY24 Revenue Up 32%
The online travel service firm Easy Trip Planners posted a healthy revenue for both fourth quarter of FY24 as well as for the entire fiscal year witnessing all-round growth in its business segments
Online travel service provider Easy Trip Planners Ltd on Friday released its fiscal fourth quarter earnings and for the full fiscal year 2023-24. For FY24, the company clocked a 32 per cent jump in its overall revenue from operations at Rs 590.58 crore compared to FY23 full year numbers. The EBITDA for the full fiscal year stood at Rs 228.20 crore, up 19 per cent on-year while the profit growth was recorded at 16 per cent YoY. “This strong performance underscores EaseMyTrip’s continued momentum and further strengthens its position as one of the few profitable new-age tech companies in the industry. Additionally, the company recorded a GBR of Rs 8512.60 crore in FY24, further strengthening its market position,” the company said in a statement.
For the fourth quarter ended March 31, 2024, EaseMyTrip.com posted revenue from operations at Rs 164.04 crore, up 40.7 per cent as against Rs 116.60 crore during the corresponding quarter of previous fiscal year. However, it posted a loss of Rs 15.75 crore in Q4FY24 compared to a profit of Rs 31.15 crore recorded during the fourth quarter of FY23. The Gross Booking Revenue (GBR) for Q4FY24 stood at Rs 2,090 crore During the quarter, the company’s non-air segment saw a growth wherein the total hotel night bookings were 1.4 lakh which grew by 39 per cent and the other bookings were at 2.7 lakh, up by 53 per cent. For FY24, the hotel night bookings were at 5.2 lakh, up by 49 per cent; and the other bookings at 10.4 lakh by 67 per cent.
“We are pleased to announce that during the quarter our revenue from operations was at Rs 1,64 crore, a growth of 41 per cent Y-o-Y. Similarly, our FY24 revenue from operations grew by 32 per cent at Rs 5,90.6 crore. During FY24, EBITDA was at Rs 228.2 crore, posting a Y-o-Y growth of 19 per cent and our PBT grew by 16 per cent Y-o-Y to Rs 215.1 crore. The Gross Booking Revenue for Q4FY24 and FY24 stood at INR 2,090 crore and Rs 8,512.6 crore, respectively.
In Q4FY24, we acquired 50 per cent stake in Jeewani Hospitality to develop a luxurious 150-room Radisson Blu hotel in Ayodhya, expanding our portfolio with high-quality hospitality offerings to 1.5 lacs daily visitors. We diversified our business and expanded our services to better serve our customers by launching a new subsidiary, EaseMyTrip Insurance Broker Private Limited, marking our entry into the Rs 7.9 lakh crore insurance industry. This move allows us to address customer needs more comprehensively beyond travel. Additionally, we have been proactive in establishing partnerships with the government and institutions and have also expanded our offline domestic footprints through franchise stores.’’
‘’These initiatives underpin our commitment to strengthening partnerships and enhancing customer satisfaction across the travel and financial services sectors. We look forward to continuing to serve our customers with excellence and expanding our offerings to meet evolving needs in the market.”
