EaseMyTrip Reports 26.3% Decline in Q3 Net Profit to Rs 33.6 Crore
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Synopsis
Online travel service Easy Trip Planners Limited, operating EaseMyTrip, announced a 26.3% YoY drop in net profit to Rs 33.6 crore for Q3 FY25. Revenue also fell by 6.5%, highlighting challenges in the market despite growth in operational areas.
Key Takeaways
- Net profit decreased by 26.3% YoY.
- Revenue from operations fell by 6.5%.
- EBITDA dropped by 21.8% YoY.
- Profit before tax declined by 23% YoY.
- Company is investing Rs 200 crore in electric bus sector.
Mumbai, Feb 15 (NationPress) Online travel service provider Easy Trip Planners Limited, known for its platform EaseMyTrip, announced a 26.3% year-on-year (YoY) decrease in net profit for the third quarter concluding on December 31, 2024 (Q3 FY25).
The company's net profit decreased to Rs 33.6 crore, down from Rs 45.6 crore in the same quarter of the previous financial year (Q3 FY24), as indicated in its stock exchange filing.
Operational revenue also saw a decline of 6.5%, falling to Rs 150.5 crore compared to Rs 160.9 crore in the corresponding period last year.
On the operating front, EBITDA (earnings before interest, tax, depreciation, and amortization) fell by 21.8% YoY to Rs 47.7 crore from Rs 61 crore.
The EBITDA margin contracted to 31.7% from 37.9% during the previous year's quarter, according to its filing.
EaseMyTrip's profit before tax was recorded at Rs 46.2 crore, which is a decline of roughly 23% compared to Rs 60.25 crore in the same quarter of the prior fiscal year.
The company's shares concluded at Rs 12 on the NSE, down by Rs 0.24 or 1.96% on Friday.
In Q2, the online travel agency noted a substantial 45.2% drop in its consolidated net profit YoY.
The profit before interest, depreciation, and taxes (PBIDT) decreased by 37.5% YoY to Rs 42.3 crore in the quarter ending September.
This downturn signifies rising operational costs and market challenges, which have affected EaseMyTrip's profitability despite consistent revenue growth.
During the July-September quarter, the company broadened its business scope by launching a new subsidiary, Easy Green Mobility, aimed at entering the electric bus manufacturing market.
"The firm is investing Rs 200 crore for research and development (R&D), product innovation, and setting up a manufacturing facility over the next 2-3 years, targeting the rapidly expanding Indian electric bus sector, expected to grow at a compound annual growth rate (CAGR) of 24% from 2024 to 2030," the company disclosed in its Q2 earnings report.
