Indian traveltech platform EaseMyTrip has reported a robust profit after tax (PAT) of Rs 47.2 crore for Q2FY24, a notable year-on-year (YoY) growth of 67.2%.
The report comes after acquiring a 51% stake in three key travel companies—Guideline Travel Holidays Pvt. Ltd., TripShope Travel Technologies Pvt. Ltd., and Dook Travels Pvt. Ltd.—as it has expanded its product and services offerings to customers, the company said in a release.
Additionally, the company said it has expanded its offline footprint by opening new franchise stores in key Indian cities, aiming to provide personalized travel experiences and enhance its nationwide network.
The company reported a 2.4% increase in gross booking revenue (GBR) from Rs 1,977 crore to Rs 2,026 crore. The company said the growth was led by slight uptick in air ticket sales. However, more substantial growth was noted in other areas of the company's portfolio.
The hotel reservations significantly increased, with bookings rising by 60.2%. Additionally, the 'Others' category, encompassing services such as train and bus bookings, saw an increase of 98.5%.
The company partnered with BluSmart for electric ride-hailing and launched a Corporate Self-Booking Tool for efficient travel bookings. It also partnered with DuDigital Global for administrative and document services.
The company also partnered with DuDigital Global for administrative and document services.