Easy Trip Planners stock skyrockets 15% amid heavy volumes; here's why

Shares of travel tech platform Easy Trip Planners skyrocketed up to 14.95 per cent at Rs 18.76 a piece on the BSE in Friday’s intraday trade. This came after shares of the company were trading ex-bonus today, issuing one bonus equity share for every one fully paid-up equity share. 

 

The bonus shares were issued from the company's available reserves as of March 31, 2024.

 

The shares of the company were in great demand on Friday, as a total of 3 million equity shares exchanged hands on the BSE. The stock had a 3.4 million buying orders, while 1 million sell orders on the BSE, data showed. 

 

 

On Thursday, the company also unveiled EMT Desk, an all-in-one platform tailored to transform corporate travel. Designed to meet the needs of modern businesses, EMT Desk combines employee-friendly benefits, and real-time travel management under one system. 

 

The platform ensures a streamlined experience for businesses looking to optimise travel costs and enhance employee travel satisfaction, the company said in a statement. 

 

The company said that a travel manager oversees each account, providing planning and budget analysis for efficient, cost-effective business travel, the company further said. 

 

On the financial side, Easy Trip Planners, also known as EaseMyTrip, reported a 45.2 per cent decline in its consolidated net profit, which fell to approximately Rs 26 crore for the quarter ending September 30, compared to the same period last year. 

 

However, the company’s net sales saw a modest increase of 2.1 per cent, reaching Rs 144.7 crore on a year-on-year basis for the July-September quarter. 

 

Additionally, the company's profit before interest, depreciation, and taxes (PBIDT) dropped by 37.5 per cent, amounting to Rs 42.3 crore for the quarter, compared to the previous year.

 

On the equities side, Ease Trip Planners’s stock has underperformed the market year to date as it has fallen 10 per cent, while slipping 5 per cent in the last one year. In comparison BSE Sensex has risen 9 per cent year to date and 18 per cent in a year. 

 

The company has a total market capitalisation of Rs 6,492.76 crore.  Its shares are trading at a price to earnings multiple of 31.52 times and at an earning per share of Rs 0.58. 

 

At 10:24 AM; the shares of the company were trading 12.25 per cent higher at Rs 18.32 a piece. By comparison, the BSE Sensex was up 0.22 per cent at 79,221.46 level.