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EaseMyTrip Expects a Quadruple Increase in Profits in Second Quarter

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Easy Trip Planners, which operates the online travel platform EaseMyTrip, had its consolidated net profit triple in the July-September quarter of FY22, reaching INR 27.13 crore.

The Delhi NCR-based travel portal had a net profit of INR 6.16 crore during the same time previous year (FY21).

The increase in profitability is due to a more than 300 percent increase in revenue from the air sector. During the period under review, air passage revenue was INR 44.96 crore, up from INR 10.27 crore in the second quarter of FY21.

The opening up of the economy, as well as the travel and hospitality area, accounted for the majority of the revenue rise year over year. Covid-19 lockdowns and limitations had a significant influence on the same time of the previous fiscal year.

In July-September FY22, EaseMyTrip's net revenue across all categories increased by more than fourfold to INR 43.67 crore.

The business stated in a statement that gross booking revenue (GBR) increased by 164% to INR 895.09 crore in the latest quarter, compared to INR 339.29 crore in the same quarter of FY21.

The corporation is in purchase negotiations with a number of travel-related companies and is searching for ways to boost income in the 'non-air' industry.
The United Arab Emirates, Singapore, Philippines, Thailand, the United Kingdom, and the United States were added to the company's worldwide reach.

Nishant Pitti and Rikant Pitti founded EaseMyTrip in 2008, and company was placed on local stock exchanges in March 2021. The present market capitalization of the firm is around INR 5,800 crore.