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Easy Trip Planners achieves GBR of Rs3,641 crore for H1FY23

14 Nov 2022 , 02:45 PM

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 India’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 “Zero Convenience Fees”, “Full Refund on Medical Cases” to name a few.

Summary & Key Highlights:

  • The company has achieved GBR of Rs3,641 crore for H1FY23, which is almost equal to its FY22’s full year GBR of Rs3,716 crore, representing the company’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 — in India’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 company’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.

For feedback and suggestions, write to us at editorial@iifl.com

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