EaseMyTrip reports 22% decline in net profit to Rs 26Cr

Easy Trip Planners Limited, which operates an online travel ticket booking platform, couldn't sustain its profit growth as it has reported a 21.82% decline in net profit from Rs 33.6 crore in Q1FY23 to Rs 26.2 crore in Q1FY24 that ended June 30, 2023.

However, The company's total revenue grew by 22% from Rs 87.7 crore in Q1FY23 to Rs 105 crore in Q1 FY2024. Comparing the current quarter's total revenue with the previous Q4FY23, Its revenue fell from Rs 115.8 crore to Rs 105.4 crore.

Total expenses also went up by 64% from Rs 42.7 crore in Q1FY23 to Rs 70.2 crore in Q1FY24 due to higher advertising, payment gateway charges and employee costs as operations scaled up. 

Commenting on the results, Nishant Pitti, Whole Time Director said, "We are optimistic about growth prospects with revenge travel and pent up demand unfolding."

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