EaseMyTrip posts Highest-Ever EBITDA

FY24 EBITDA at INR 2282 million

EaseMyTrip.com, one of the leading online travel tech platforms in India, sustained its momentum during this quarter. For Q4FY24, the Revenue from Operations was INR 1,640 million, up by 41%
Y-o-Y. EBITDA was INR 577 million, up by 24% Y-o-Y and the Profit Before Tax was
INR 551 million, a Y-o-Y growth of 24%. Furthermore, the Gross Booking Revenue (GBR) was INR 20,900 million in Q4FY24.

In Q4 FY24, our non-air segment saw robust growth wherein the total hotel night bookings were 1.4 Lacs which grew by 39% and the other bookings were 2.7 Lacs by 53%. For FY24, the hotel night bookings and the other bookings were 5.2 Lacs by 49% and 10.4 Lacs by 67%, respectively.

For FY24, the Revenue from Operations was INR 5,906, growth of 32% Y-o-Y. The EBITDA was INR 2,282 million, a 19% of Y-o-Y growth and the reported Profit Before Tax of
INR 2,151 million, growth of 16% Y-o-Y. This strong performance underscores EaseMyTrip’s continued momentum and further strengthens its position as one of the few profitable new-age tech companies in the industry. Additionally, the company recorded a GBR of INR 85,126 million in FY24, further strengthening its market position.

In addition to achieving strong financial performance this quarter and FY24, EaseMyTrip initiated significant collaborations to position itself as a growth-oriented company. Following a significant event in Indian history, the company acquired a 50% stake in Jeewani Hospitality and partnered with the Radisson Hotel Group to develop a 150-room Radisson Blu Hotel in Ayodhya City. This strategic move positions the hotel near the recently established Ram Mandir, enhancing its appeal and accessibility to 1.5 Lacs per day visitors.

In this quarter, EaseMyTrip also launched its new wholly-owned subsidiary, EaseMyTrip Insurance Broker Private Limited, to diversify its services into the INR 7.9 Trillion insurance market.

EaseMyTrip deepened its collaboration with the government, establishing a stronger alliance to jointly pursue shared objectives. It became the first travel partner for CSC e-Governance Services Limited, offering travel services including flight, hotel, bus, cab, holiday and activity to 8 lacs Village Level Entrepreneurs (VLE). These dedicated VLEs, representing CSC, play a pivotal role in delivering various services to citizens, with travel services being one of the key offerings. Additionally, it partnered with the Ministry of Rural Development to empower women’s self-help groups through skill development under the Lakhpati Didi Yojana. A significant step towards empowering women.

Through its EaseMyTrip Foundation and contributing to CSR, the company established a Memorandum of Understanding (MOU) with the Archaeological Survey of India (ASI). This partnership aims to designate EaseMyTrip Foundation as the Smārak Särathi (Monument Mitra) for four of India’s most esteemed historical monuments, as part of the government’s Adopt a Heritage 2.0 program. As the designated Smārak Särathi, EaseMyTrip will be responsible for the upkeep and enhancement of four prestigious historical monuments: Qutb Minar in Delhi, the Sun Temple in Konark, Agra Fort, and the Western Group of Temples in Khajuraho witnessing footfall of over 60 Lac visitors annually.

The company has played a pivotal role in expanding its range of products and services to provide a comprehensive solution for all travel needs. Embracing this approach, EaseMyTrip introduced the “PNB EMT Credit Card” in collaboration with Punjab National Bank helping EaseMyTrip reach out to millions of PNB customers through its 10,100 + branch network across the country.

Furthermore, EaseMyTrip partnered with Zoomcar to offer self-drive car rentals through its platform, enhancing travel convenience for its customers.

EaseMyTrip remains dedicated to expanding its domestic footprint by strategically opening physical franchise stores across the country by launching 4 franchise stores in Indore, Gurugram, and Jalgaon, in this quarter, underscoreing the company’s commitment to enhancing accessibility to travel services.

The company conducted its first nationwide roadshow aimed at fostering business connections and dialogue within the thriving tourism industry of the nation. The initiative witnessed roadshows in cities including Kolkata, Raipur, Nagpur, Indore, and saw participation from 1800+ B2B agents. This initiative was conducted in close collaboration with EaseMyTrip’s recently acquired domestic travel brands, Guideline Travels and Dook Travels.

Lastly, EaseMyTrip has been honoured with the prestigious title of Online Travel Agent of the Year by the SATTE India Awards and also has been recognized with the Versatile Excellence Travel Award (VETA) 2024 for the Best Online Travel Agency. These accolades are a testament to EaseMyTrip’s commitment to excellence, innovation, and the creation of a comprehensive travel ecosystem that caters to the needs of travellers across the nation. 

Q4 FY24 Key Developments 

Business Expansion

EaseMyTrip launched its latest subsidiary, EaseMyTrip Insurance Broker Private Limited. This initiative underscores the company’s commitment to broadening its portfolio and venturing into the insurance sector with a tailored solution to address the arising customer demands. The establishment of this new venture is poised to strengthen EaseMyTrip’s foothold in the market, targeting a vast INR 7.9 trillion industry alongside its existing ~26 million user base. By venturing into insurance brokerage, the company not only enhances its service spectrum but also paves the way for diversified business operations and revenue growth.

Strategic Partnership

EaseMyTrip, acquired 50% stake in the Jeewani Group, and established a partnership with Radisson Hotel Group to develop a 150-room Radisson Blu Hotel in Ayodhya City. The upcoming Radisson Blu Hotel, Ayodhya, expected to open in 2027, represents a greenfield project positioned to cater to the substantial demand from 1.5 Lacs per day visitors visiting Ayodhya.

Government Tie-up’s

EaseMyTrip entered into a MoU with the Ministry of Rural Development to provide training for members of the Deendayal Antyodaya Yojana – National Rural Livelihoods Mission Self-Help Groups under the Lakhpati Didi Yojana. This initiative is designed to help over ~1.8 Crore identified Didis to develop their entrepreneurial abilities and empower them to achieve financial independence.

EaseMyTrip has collaborated with Common Services Centre (CSC) e-governance Services Limited, positioning itself as the first travel partner to provide comprehensive travel solutions including flight, hotel, holiday, bus, cab and activities to CSC and its extensive network of 8 Lacs VLEs. These dedicated VLEs play a crucial role in delivering various services to citizens, with travel services being a key offering.

EaseMyTrip Foundation, a wholly owned subsidiary of EaseMyTrip, has partnered with the government as part of the government’s Adopt a Heritage 2.0 program to spearhead a comprehensive plan aimed at enhancing the upkeep, maintenance, and visitor experience at heritage monuments. This collaborative effort encompasses infrastructure upgrades, provision of on-site amenities, and educational initiatives to promote awareness about the historical and cultural significance of these sites. As the designated Smārak Särathi, EaseMyTrip will be responsible for the upkeep and enhancement of four prestigious historical monuments: Qutb Minar in Delhi, the Sun Temple in Konark, Agra Fort, and the Western Group of Temples in Khajuraho witnessing footfall of over 60 Lac visitors annually.

Corporate Travel Solutions

EaseMyTrip has announced a partnership with Zaggle Prepaid Ocean Services Limited, a SaaS FinTech company specializing in spend management solutions for corporates. This collaboration aims to deliver integrated travel and expense management solutions to EaseMyTrip’s corporate clients. Through this partnership, EaseMyTrip’s corporate customers will gain seamless access to Zaggle’s Expense Management System (EMS) platform.

New Product Launches

EaseMyTrip has collaborated with Punjab National Bank (PNB) to introduce the PNB EMT Credit Card. The card offers 10% discount on flight bookings, 20% discount on Hotel bookings, and flat INR 125 off on Bus bookings. Additionally, the PNB EMT Credit Card features a built-in wallet for secure and hassle-free contactless payments. Millions of PNB customers through its 10,000 plus domestic branches networks across the country

Roadshow

EaseMyTrip conducted our first nationwide roadshow aimed at fostering business connections and dialogue within the thriving tourism industry of the nation. The initiative witnessed roadshows in 12 cities starting from Kolkata and saw participation from 1800+ B2B agents. This initiative was conducted in close collaboration with EaseMyTrip’s recently acquired domestic travel brands, Guideline Travels and Dook Travels.

Expanding Franchise Business

EaseMyTrip inaugurated its first physical stores in Indore and Jalgaon, alongside the launch of two franchise stores in Gurugram. The launch of these franchise stores reflects EaseMyTrip’s dedication to enhancing accessibility to travel services through a blend of digital and physical channels. Customers can now access a wide range of travel-related services, including air and hotel bookings, bus and rail reservations, group travel packages, visa applications and exclusive vacation, cruise, and charter options.

Awards & Recognition

EaseMyTrip has achieved significant recognition, being honored as the Online Travel Agent of the Year by the SATTE India Awards and received the Versatile Excellence Travel Award (VETA) 2024 for the Best Online Travel Agency. These prestigious accolades underscore EaseMyTrip’s dedication to excellence, innovation, and the development of a comprehensive travel ecosystem tailored to meet the diverse needs of travelers 

EaseMyTrip posts Highest-Ever EBITDA

FY24 EBITDA at INR 2282 million

FY24 Consolidated Revenue from Operations of INR. 5,906 Mn; up 32% Y-o-Y

FY24 EBITDA of INR 2,282 Mn; up 19% Y-o-Y and margin of 37%

Restated Earnings per Share of INR 0.89

New Delhi, May 24, 2024: Easy Trip Planners (BSE: 543272 | NSE: EASEMYTRIP), announced its Q4 and FY24 results. The company presents an extensive spectrum of travel booking services, adeptly meeting the demands of ~26 Million customers domestically and internationally. Offering an array of travel services such as Flight, Hotel, Holidays, Buses, Cabs and more. EaseMyTrip enable customers to efficiently search, plan, and procure travel-related services, both within India and Internationally

Q4 FY24 vs Q4 FY23 Performance Highlights

• Hotel nights bookings were 1.4 Lacs, an increase of 39% and contributing 12% to the segment revenue
• Bookings in the Train, Buses and Others segment rose by 53% to 2.7 Lacs, contributing 8% to the segment revenue
• Gross Booking Revenue was INR 20,900 million
• EBITDA was INR 577 million, a 24% increase
• PBT was at INR 551 million, increased by 24%

FY24 vs FY23 Performance Highlights

• Hotel nights bookings were 5.2 Lacs, an increase of 49% and contributing 9% to the segment revenue
• Bookings in the Train, Buses and Others segment rose by 67% to 10.4 Lacs, contributing 9% to the segment revenue
• Gross Booking Revenue was INR 85,126 million, an increase of 6%
• EBITDA was INR 2,282 million, a growth of 19%
• PBT grew by 16% to INR 2,151 million 

Announcing the results, Nishant Pitti, CEO and Co-founder of Easy Trip Planners, commented:

“We are pleased to announce that during the quarter our Revenue from Operations was at INR 1,640 million, a growth of 41% Y-o-Y. The EBITDA grew by 24% Y-o-Y at INR 577 million and our PBT was INR 550.7 million, increase of 24% Y-o-Y, demonstrating our commitment to profitability. Similarly, our FY24 Revenue from Operations grew by 32% at INR 5,906 million. During FY2024, EBITDA was at INR 2,282 million, had a Y-o-Y growth of 19% and our PBT grew by 16% Y-o-Y to INR 2,151 million. The Gross Booking Revenue for Q4FY24 and FY24 stood at INR 20,900 million and INR 85,126 million, respectively.

In Q4FY24, we acquired 50% stake in Jeewani Hospitality to develop a luxurious 150-room Radisson Blu hotel in Ayodhya, expanding our portfolio with high-quality hospitality offerings to 1.5 lacs daily visitors. We diversified our business and expanded our services to better serve our customers by launching a new subsidiary, EaseMyTrip Insurance Broker Private Limited, marking our entry into the INR 7.9 Trillion insurance industry. This move allows us to address customer needs more comprehensively beyond travel. Additionally, we have been proactive in establishing partnerships with the government and institutions and have also expanded our offline domestic footprints through franchise stores.’’

‘’These initiatives underpins our commitment to strengthening partnerships and enhancing customer satisfaction across the travel and financial services sectors. We look forward to continuing to serve our customers with excellence and expanding our offerings to meet evolving needs in the market.”

Q4 FY24 Consolidated Performance Highlights