Pune (Voice news service):- EaseMyTrip.com, a leading online travel platform in India, continues its strong financial performance, reporting INR 1,607.9 million in revenue for Q3FY24, marking an 18.1% year-on-year increase. EBITDA reached INR 653.7 million, up by 10.9% year-on-year, with a Profit After Tax of INR 456.6 million, reflecting a 9.5% year-on-year growth. Gross Booking Revenue (GBR) for Q3FY24 stands at 20,260.7 million.
Following a successful quarter, EaseMyTrip acquired a stake of approximately 13% in ECO Hotels and Resorts, diversifying its portfolio beyond online travel services. This move aligns with the company’s commitment towards organic and in-organic growth and sustainability by promoting environmentally friendly practices within the travel and hospitality sector.
In a significant milestone, EaseMyTrip and the Government of Uttarakhand have signed a landmark Memorandum of Understanding (MOU) during the Global Investors Summit in London. This partnership aims to elevate Uttarakhand’s global tourism appeal. The MOU includes joint marketing campaigns targeting key markets like the UK/Europe, Middle East, Asia, USA/Canada, leveraging EaseMyTrip’s global reach to bolster Uttarakhand’s tourism sector.
Demonstrating its dedication to offering tailored services, EaseMyTrip introduces EasyDarshan, providing curated pilgrimage packages across India. These packages offer hassle-free journeys, encompassing transportation, accommodation, guided tours, and special pujas, prioritizing safety and convenience. Additionally, the launch of “Explore Bharat – Discover the Soul of India” showcases the nation’s rich heritage, culture, and landscapes, targeting overseas travellers. These initiatives underscore the company’s continuous expansion of services, catering to niche customer segments.
Furthermore, EaseMyTrip introduces an exclusive subscription program, the EaseMyTrip Platinum, Gold, and Silver Cards, offering luxury travel experiences to High-Net-Worth Individuals (HNI). These cards feature specialized services, benefits, and privileges, enhancing the travel experience for subscribers.
EaseMyTrip has been actively cultivating partnerships with various entities to bolster its marketing and collaboration efforts. Alongside becoming the Principal Sponsors of UP Yoddhas in Kabaddi, the company has extended its reach to the world of tennis as the Official Associate Partner of World Tennis League Season 2. Additionally, EaseMyTrip has entered into a significant collaboration with Vi to extend exclusive propositions related to travel and international roaming, further enhancing its range of services for customers.
Moreover, in this quarter, EaseMyTrip successfully concluded three major sales – the Winter Carnival Sale, Travel Utsav Sale, and Dussehra Travel Sale. These sales offered significant discounts on flights, hotels, holidays, buses, cabs, and more, allowing the company to provide better value to its customers.
Highlighting financial performance, for 9MFY24, the Revenue from Operations was INR 4,265.3, growth of 28.4% Y-o-Y. The EBITDA stood at INR 1,705.2 million, a 17.9% of Y-o-Y growth and the reported Profit After Tax of INR 1,188.6 million, growth of 15.3% Y-o-Y. This strong performance underscores EaseMyTrip’s continued momentum and further strengthens its position as one of the few profitable new-age tech companies in the industry.
Additionally, the company recorded a GBR of INR 64,226.0 million in 9MFY24, further strengthening its market position.
The total number of air bookings (net of cancellations) in Q3FY24 reached 22.6 Lacs. Similarly, hotel night bookings and the other bookings were 91,915 and 2.7 Lacs, respectively. For 9MFY24, air ticket sales (net of cancellations) were 83.7 Lacs. Furthermore, there were 3.8 Lacs hotel night bookings and 7.7 Lacs in the other bookings.
Following the triumph, EaseMyTrip was recognized as the Online Travel Marketplace of the Year (B2C) by ET Travel World Awards. The company has always been committed to providing a range of diverse travel related services.
In summary, EaseMyTrip has been consistent in customizing its offerings to the evolving needs of travellers. This proactive approach is evident in the expansion of services, user-friendly website design, and implementation of advanced search functionalities and real-time updates. All these features prioritize customer satisfaction by facilitating informed decision-making and ensuring a seamless booking experience.
