EaseMyTrip stock hits 5% upper circuit on stellar Q3 results, PAT jumps 84% yoy to Rs40cr

31 Jan 2022 , 09:35 AM

EaseMyTrip Limited, India’s second-largest online travel platform, has announced a remarkable Q3 results with profit rising by 84% to Rs40cr as against a net profit of Rs22cr in the corresponding quarter of the previous fiscal.

The Q3FY22 Gross Booking Revenue (GBR) stood at Rs1,293cr as compared to Rs783cr in Q3FY21 up by 65 % yoy and Rs895cr in Q2FY22 up by 44.5 % qoq. Adjusted revenue for Q3FY22 crossed the Rs152cr mark and was up by 147.2% yoy and 50.7% qoq.

The company said, it posted consistent performance across businesses; Continues to gain market share basis increased margins and commissions, and enhanced operational efficiency. Air segment booking grew 49% and hotel nights booking grew by 144% for Q3FY22.

Gross Bookings Revenue (GBR) for 9MFY22 stood at Rs2,544cr as compared to Rs1,221cr in 9MFY21 up by 108% yoy. Adjusted revenue for 9MFY22 was Rs302cr up by 208% yoy.

Profit after Tax for 9MFY22 stood at Rs83cr as compared to Rs31cr in 9MFY21, up by 167% yoy. Air segment booking was up by 87% yoy, and hotel nights booking grew by 357% yoy for 9MFY22.

The company stock hit a 5% upper circuit at Rs564.15 per share early on Monday. At around 9.40 am, EaseMyTrip Limited was trading at Rs548.05 per share up Rs10.75 or 2.00% on the BSE.

“Despite the challenges posed by the second and third wave of the pandemic, EaseMyTrip continues to deliver robust growth in one of the most disruptive periods for the travel and tourism industry. This was possible due to the increase in operational efficiencies and our model of working on lean cost of operations. We are now extremely bullish about the strong pentup demand in the travel industry. We will continue to strengthen on all fronts and are confident that our continued focus on financial and operational efficiency will help us to achieve sustainable business growth in the coming quarters as well,” Prashant Pitti, Co-Founder, EaseMyTrip, said.

“Being the 2nd largest online travel platform in India, we will continue to tap into growth opportunities not just in the air segment but non-air segments where we have made slew of acquisition announcements in the quarter. We are confident that our continued focus on operational efficiency and financial discipline will help us deliver sustainable business growth, and we will continue to strengthen on all fronts to deliver greater shareholder value. Going forward, we are looking at creating a travel ecosystem with enhanced focus on increased revenues and profitability,” he added.