EaseMyTrip’s Q3 net profit tanks 26.3 pc to Rs 33.6 crore, revenue drops

Mumbai: Online travel service provider Easy Trip Planners Limited, which operates EaseMyTrip, reported a 26.3 per cent year-on-year (YoY) drop in net profit for the third quarter ended December 31, 2024 (Q3 FY25).

The company’s profit fell to Rs 33.6 crore, compared to Rs 45.6 crore in the same quarter of the previous financial year (Q3 FY24), according to its stock exchange filing.

Revenue from operations also declined by 6.5 per cent to Rs 150.5 crore compared to Rs 160.9 crore in the corresponding period last year.

At the operating level, EBITDA (earnings before interest, tax, depreciation and amortisation) dropped 21.8 per cent YoY to Rs 47.7 crore from Rs 61 crore.

The EBITDA margin also shrank to 31.7 per cent from 37.9 per cent in the previous year’s quarter, as per its filing.

EaseMyTrip’s profit before tax stood at Rs 46.2 crore, dropped by approximately 23 per cent as compared to Rs 60.25 crore in the same quarter year-ago fiscal.

The company’s shares closed at Rs 12 on the NSE, down by Rs 0.24 or 1.96 per cent on Friday.

Meanwhile, in Q2, the online travel agency reported a 45.2 per cent decline in its consolidated net profit on YoY.

The company’s profit before interest, depreciation, and taxes (PBIDT) fell by 37.5 per cent YoY to Rs 42.3 crore in the quarter ended September.

This decline reflects increased operational costs and market pressures, which have impacted EaseMyTrip’s profitability despite steady revenue growth.

During the July-September quarter, the company expanded its business portfolio by incorporating a new subsidiary, Easy Green Mobility, to venture into the electric bus manufacturing sector.

“The company is investing Rs 200 crore for research and development (R&D), product development, and establishing a manufacturing plant over the next 2-3 years, targeting the rapidly growing Indian electric bus market, which is projected to grow at a compound annual growth rate (CAGR) of 24 per cent from 2024 to 2030,” the company informed in its Q2 earnings filing.

–IANS