Page 3 - Easemytrip

Easy Trip Planners Q3 results: Net profit rises 9.56% to Rs 45.68 cr

Online travel services provider Easy Trip Planners Ltd on Friday reported a 9.56 per cent increase in consolidated net profit at Rs 45.68 crore in the third quarter ended December 31, 2023. The company had posted a consolidated net profit of Rs 41.69 crore in the same period last fiscal, Easy Trip Planners, which operates under the brand EaseMyTrip, said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood at Rs 160.79 crore as against Rs 136.15 crore in the year-ago period, it added. Total expenses were higher at Rs 105.05 crore as compared to Rs 82.6 crore in the corresponding period a year ago, the company said. "Looking ahead, we're intensifying efforts to grow our air ticketing business and enhance our presence in non-air segments such as hotels, holidays, and transportation on a global scale," Easy Trip Planners Co-founder and CEO Nishant Pitti said. Also, he said, "We are expanding our retail footprints domestically and explorin

E-booking co EaseMyTrip ventures into insurance sector with new subsidiary

Online travel booking platform EaseMyTrip.com on Wednesday announced venturing into the insurance sector with the launch of its subsidiary EaseMyTrip Insurance Broker Pvt Ltd. The company termed it a "strategic move" to diversify its service portfolio and tap into the insurance market by creating a specialised product to solve customer needs. "The new venture is expected to solidify EaseMyTrip's position in the industry and cater to a Rs 7.9 trillion market with EaseMyTrip's own 20 million userbase," the company said in a regulatory filing. The company's insurance foray comes days after it made headlines for suspending flight bookings to the Maldives in the wake of diplomatic tensions between India and the island nation.

EaseMyTrip suspends flight bookings to Maldives over tourism row with India

Maldivian ministers mocked PM Modi's visit to Lakshadweep, stating that India could not compete in terms of tourism

Easy Trip Planners gets board nod for raising funds up to Rs 1,000 cr

Online travel service provider Easy Trip Planners Ltd is planning to raise up to Rs 1,000 crore through a preferential issue. The board of directors of the company, at its meeting held on Tuesday, has given in-principle approval for the fundraising proposal, Easy Trip Planners, which operates under the brand EaseMyTrip, the company said in a regulatory filing. The company further said that the board's in-principle approval pertains to "identifying the optimum combination of equity shares and/or warrants convertible into equivalent number of equity shares of the company to be issued on preferential basis for raising funds up to Rs 1,000 crore." The exercise will be on such terms and conditions as may be determined by the board in accordance with SEBI regulations and other applicable laws and to identify the list of proposed allottees for the aforesaid purpose, it added.

JioCinema to release 'world's first angel investment show', Indian Angels

OTT platform JioCinema is set to release another investment show named 'Indian Angels'. The show will increase competition into a space currently dominated nationwide by hit show Shark Tank India

EaseMyTrip, Uttarakhand govt sign MoU to make state a global tourism spot

Online travel tech platform EaseMyTrip and the government of Uttarakhand have signed a memorandum of understanding worth Rs 250 crore to elevate Uttarakhand's tourism sector

EaseMyTrip's general sales agreement with SpiceJet to start from Aug 1

Online travel service provider Easy Trip Planners Ltd on Monday said it has signed a general sales agreement with SpiceJet for selling and promoting the carrier's passenger tickets and other services to passengers in India. The agreement will commence from August 1, 2023, under which the company will be responsible for selling and promoting the products and services offered by SpiceJet in India, Easy Trip Planners, which operates under brand EaseMyTrip, said in a statement. "With this collaboration and the potential for future acquisitions, we are presented with a fantastic opportunity for growth," EaseMyTrip CEO and Co-Founder Nishant Pitti said. The company anticipates gaining additional momentum and propel towards becoming a leader in the air ticketing industry within the next 18 to 24 months, he added. "With their extensive experience, strong industry connections, and deep understanding of the Indian market, we are confident that they (EaseMyTrip) will drive our sales efforts

EaseMyTrip becomes IIFA's official partner, to give complimentary ticket

According to the BSE filing, the complimentary ticket can be only availed by those customers who will be traveling to Abu Dhabi between May 25th and May 27th

Here's why Mehul Kothari recommends to Buy ABFRL, EaseMyTrip

According to the technical analyst from Anand Rathi, ABFRL can rally to Rs 285, while EaseMyTrip can jump to Rs 60.

EaseMyTrip Q3 profit rises 4% YoY at Rs 41.7 cr, revenue increases 58%

Air tickets and hotel booking businesses do well to help volumes, says online travel firm

EaseMyTrip acquires 55% stake in real-time marketplace cheQin for Rs 3 cr

Online travel tech platform EaseMyTrip.com on Tuesday said it has acquired a 55 per cent majority stake in cheQin for Rs 3 crore. cheQin is a real-time marketplace, which allows travellers to bargain with hoteliers without any effort. The deal will help in strengthening EaseMyTrip's hotel channel in terms of technology, adaptability, personalisation, and the acceptance of bulk booking and long stay requests, the company said in a statement. "EaseMyTrip is focusing on the growth of its non-air segments. This acquisition is a step towards revolutionising the hotel business altogether. Through cheQin, which is a unique app in the hotels industry, we will diversify our hotel booking experience through technology support," EaseMyTrip CEO and Co-Founder Nishant Pitti said.

EaseMyTrip to establish offline retail stores through franchise model

Products and services that will be offered under the EaseMyTrip Franchise will include flight booking, group fares, hotels, holidays, IRCTC (rail booking), cabs, buses, cruises, charters, and visas

Hotels to tickets: Travel return fuels growth for online travel aggregators

EaseMyTrip, Airbnb and OYO among companies reporting steady growth in business as pandemic wanes

India's EaseMyTrip to step up acquisitions, sees strong Q3, says Co-founder

"We are looking to acquire profitable, asset-light and tech-driven businesses in travel," Prashant Pitti, co-founder of EaseMyTrip, said in an interview on Reuters' Trading India chatroom

Airfares jump ahead of Diwali, Delhi-Mumbai route records total sellout

Airfares have jumped two to three times as compared to the normal times on non-leisure destinations

Flipkart launches hotel-booking service, sees travel industry gaining

Flipkart Hotels will provide room bookings at 3 lakh domestic and international hotels. It will offer customers services like flexible travel and booking-related policies, and easy EMI options

Air ticket bookings for summer, Good Friday weekend up 50%: EaseMyTrip

While revenge travel has been one of the biggest factors driving the increase in bookings since last year, long weekend travel is now emerging as the new trend in the sector, the company said

Easemy Trip consolidated profit after tax soars by 83.8% in Q3

The company had posted a profit after tax of Rs 22 crore in the same period last fiscal

Online travel platform EaseMyTrip's board approves issuance of bonus shares

EaseMyTrip said its board has approved issuance of bonus shares with a view to allow its shareholders increase their equity and gain greater exposure to its future growth

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