Online travel booking platform, EaseMyTrip has reported a 330 per cent year-on-year (YOY) increase in its profit at Rs 27.1 crore in the September quarter (Q2 FY22), compared to Q2 of FY21 when its net profit was Rs 6.1 crore. With the travel industry on a path to recovery due to revenge travel post the deadly COVID-19 second wave, EaseMyTrip has said that its gross booking revenue (GBR) stood at Rs. 895.1 crore, thereby generating a strong and sustainable growth for its shareholders, investors and customers.
The air segment bookings were up by 2.5x, or 153 per cent YOY during Q2 FY22, whereas for the first half of the fiscal (H1FY22), the air ticket booking saw a 3x surge, an indication that the COVID-19 second wave’s impact on the aviation industry wasn’t as severe as the first. In terms of hotel night booking, the company informed the exchanges that the same grew by 11x, or 961 per cent YoY, for Q2 FY22.
The company further said that it has witnessed consistent performance across businesses and continues to gain on the basis of market share increased margins and commissions and enhanced operational efficiency.
“Being India’s 2nd largest online travel platform, we continue to deliver exceptional performance and generate greater value for our investors, shareholders and customers. Apart from the air segment, the performance across businesses such as hotels, bus, trains, holidays is exceptional. This growth is the direct result of our persistent efforts to innovate and build an efficient infrastructure to serve our customers better,” said Rikant Pittie, Co-Founder, EaseMyTrip.
He further added that this growth also represents a strong recovery of India's travel sector that was severely affected due to the pandemic. "We are now extremely bullish about the strong pent-up 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,” Pittie said.
EaseMyTrip is gearing up for its first-ever acquisition, that of the B2B travel marketplace Traviate. It has also expanded its international footprint to six other countries -- the Philippines, Singapore, Thailand, the UAE, the UK, and the USA.
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