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EaseMyTrip sells tickets worth Rs300 crore in its annual festive season sale

"We actually just had our yearly sale, which took place from August 1 to August 10. And we were able to conduct business worth Rs 300 crore in only just 10 days. Therefore, the total sale went quite well and the consumers were very pleased "In an interview with CNBC-TV18, EasyMyTrip co-founder Prashant Pitti stated

August 25, 2022 8:46 IST | India Infoline News Service

The travel and tourism sector is not slowing down, according to e-travel operator EasyMyTrip, which also reported that it sold tickets worth Rs 300 crore during its annual festive season sale in the first 10 days of August. This statement was made on Wednesday.

"We actually just had our yearly sale, which took place from August 1 to August 10. And we were able to conduct business worth Rs 300 crore in just 10 days. Therefore, the total sale went quite well, and the consumers were very pleased. In an interview with CNBC-TV18, EasyMyTrip co-founder Prashant Pitti stated.

Last month, the company reported strong first-quarter financial results, with profit after tax increasing by 125 percent to Rs 33 crore from Rs 14.9 crore in the same period last year.

The adjusted revenue was Rs 132 crore, up 169 percent year on year from Rs 49 crore, and the gross booking revenue (GBR) was Rs 1,663 crore, up 366 percent from Rs 356 crore.

Pitti asserted that despite inflation, the pent-up demand has yet to materialize fully and that the momentum will continue with the start of the holiday season.

The company anticipates an improvement in foreign ticketing over the coming quarters as visa applications increase.

The travel agency has a market share of over 10% both online and offline, with 95% of its revenue coming from selling airline tickets.

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