Easy Trip Planners achieves GBR of Rs3,641 crore for H1FY23
India Infoline News Service |
14 Nov, 2022 |
Easy Trip Planners Limited has released its results for the quarter ended 30th September 2022 to clock its highest-ever Gross Booking Revenue (GBR) in a quarter of ~ Rs2000 crore.
As a summary of an exceptional result, EaseMyTrip posted yet another quarter of sustained profits thereby continuing its track record of profitable journey of 14 years since inception. EaseMyTrip is Indiaâ€™s only listed OTA with ~1.1 crore users and have delivered profitable growth to all its stakeholders without investor funding since inception.
The company continue to remain a zero-debt company and is known for its several industry-first innovative services such as â€œZero Convenience Feesâ€, â€œFull Refund on Medical Casesâ€ to name a few.
Summary & Key Highlights:
The company has achieved GBR of Rs3,641 crore for H1FY23, which is almost equal to its FY22â€™s full year GBR of Rs3,716 crore, representing the companyâ€™s strong competency.
The company has also achieved the highest-ever revenue from operations in a quarter, crossing an important milestone of Rs100 crore.
Q2FY23 revenues from operations stood at ~ Rs109 crore as compared to Rs57 crore in Q2FY22, up by 91.5% yoy.
To fuel the future growth, the company has made one-time investments of Rs13 crore towards the brand building initiatives in the form of two collaborations â€“ in Indiaâ€™s most loved sport i.e Cricket, where the company was the Co-Powered Sponsors for the Asia Cup 2022 the other being the presenting partner in the Road Safety World Series T20 Season 2.
In addition to these one-time marketing expenses, minor dip worth Rs1.7 crore in overseas subsidiaries have restricted their PBT growth during the quarter to 6.7% on yoy basis. Excluding these expenses, the companyâ€™s normalized PBT would be Rs53.5 crore in Q2FY23, a growth of 47.1% yoy.
At around 2:38 PM, Easy Trip Planners was trading at Rs404.35 per share higher by 0.37% on the BSE.
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