EaseMyTrip returns to profitability in Q1 FY25
In Q1 FY25, the traveltech company's revenue from operations grew 23.34% annually to Rs 156.12 crore.
Travel booking platform Easy Trip Planners Ltd, the parent company of EaseMyTrip, has swung back to profitability in the first quarter of FY25 with a profit after tax (PAT) of Rs 33.92 crore compared to a loss of Rs 15 crore in Q4 FY24.
In Q1 FY25, the traveltech company's revenue from operations grew 23.34% annually to Rs 156.12 crore compared to Rs 126.46 crore in the same period last year (Q1 FY24). Its profit rose 31% from Rs 25.9 crore in Q1 FY24.
EaseMyTrip added that revenue from its Dubai operations jumped 139% annually to Rs 126.71 crore in Q1 FY25 from Rs 53 crore in the year-ago period.
Speaking to YourStory, Prashant Pitti, Co-founder of EaseMyTrip, said, "The management is spending a good amount of time in Middle East operations, which is a huge market, still highly untapped. In the coming years, it could become a substantial portion of our overall business."
Pitti said lower convenience fees or service charges compared to competitors have helped the company to scale significantly in the Middle Eastern markets.
In fact, Pitti added that the company has done well in its non-air business segments. The gross booking revenue from hotels and holiday packages increased by 116.6% year-over-year to Rs 210.7 crore in Q1 FY25.
It also saw a 19% rise in total expenses at Rs 109.03 crore from Rs 91.56 crore in the previous year.
Notably, EaseMyTrip reported a one-time expense of Rs 72.4 crore, consisting of "advances to supplier written off" related to the now-defunct Go Airlines.
(The copy was updated with more details.)
Edited by Suman Singh