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Stock Report
EaseMyTrip records its highest-ever Gross Booking Revenue for Q2FY23
Posted On : 2022-11-14 09:55:14( TIMEZONE : IST )
EaseMyTrip.com, one of India's largest online travel tech platforms, released its results for the quarter ended 30th September 2022 to clock its highest-ever Gross Booking Revenue (GBR) in a quarter of ~ INR 2000 Crores. As a summary of an exceptional result, EaseMyTrip posted yet another quarter of sustained profits thereby continuing its track record of profitable journey of 14 years since inception. EaseMyTrip is India's only listed OTA with ~1.1 crores users and have delivered profitable growth to all its stakeholders without investor funding since inception. The company continue to remain a zero-debt company and is known for its several industry-first innovative services such as "Zero Convenience Fees", "Full Refund on Medical Cases" to name a few.
Summary & Key Highlights:
- The company has achieved GBR of INR 3,641 crores for H1FY23, which is almost equal to its FY22's full year GBR of INR 3,716 Crores, representing the company's strong competency.
- The company has also achieved the highest-ever revenue from operations in a quarter, crossing an important milestone of INR 100 Crores.
- Q2FY23 revenues from operations stood at ~ INR 109 Crores as compared to INR 57 Crores in Q2FY22, up by 91.5% Y-o-Y.
- To fuel the future growth, the company has made one-time investments of INR 13 Crores towards the brand building initiatives in the form of two collaborations - in India's most loved sport i.e Cricket, where the company was the Co-Powered Sponsors for the Asia Cup 2022 the other being the presenting partner in the Road Safety World Series T20 Season 2.
- In addition to these one-time marketing expenses, minor dip worth INR 1.7 Crores in overseas subsidiaries have restricted their PBT growth during the quarter to 6.7% on Y-o-Y basis. Excluding these expenses, the company's normalized PBT would be INR 53.5 Crores in Q2FY23, a growth of 47.1% Y-o-Y.
EaseMyTrip continues to balance its investments towards strategic marketing opportunities and lead with innovation and a customer centric approach. In keeping up with the brand building investments, the company undertook two major collaborations - the first, in India's most loved sport Cricket, where the company was the Co-Powered Sponsors for the Asia Cup 2022 and second -presenting partner in the Road Safety World Series T20 Season 2. In addition to these one-time marketing expenses, the company has concluded two major sales, in the period, the Travel Carnival Sale and the Travel Utsav Sales, conducted in August and October respectively. It witnessed unprecedented transaction flow worth more than INR 300 Crores and INR 555 Crores respectively.
The company continues to grow and maintain its profitability.
Shares of Easy Trip Planners Limited was last trading in BSE at Rs. 402.85 as compared to the previous close of Rs. 397.65. The total number of shares traded during the day was 242611 in over 6681 trades.
The stock hit an intraday high of Rs. 410.10 and intraday low of 399.90. The net turnover during the day was Rs. 98224060.00.
