Travel boom: EaseMyTrip sees record profit in FY 24 at Rs 215 crore

NEW DELHI: Thanks to the strong post-Covid surge in travel, portal EaseMyTrip saw record growth in both profit and revenue last fiscal. While the Rs 215 crore profit in FY 2024 was 16% higher than the previous fiscal, its revenue grew 32% to Rs 591 crore, making FY 24 the best so far in terms of financial performance for the travel portal. Most travel industry players airlines, hotels and OTAs have seen record profits last fiscal.

EaseMyTrip (EMT) currently has a client base of 2.6 crore customers in India and abroad. It saw growth in all verticals in FY 24 over FY 23. Hotel night bookings rose 39% and train, buses, and other bookings rose 53%.

Nishant Pitti, CEO and Co-founder of the company said: "We are delighted to announce our robust financial performance for FY24. Our revenue from operations for Q4 stood at Rs 164 crore, marking a 41% YoY growth. Our EBITDA for the quarter grew by 24% YoY to Rs 57.7 crore, and PBT increased by 24% YoY to Rs 55.1 crore. For the full year, our revenue from operations rose by 32% to Rs 590.6 crore. Our EBITDA for FY24 was Rs 228.2 crore, a 19% YoY increase, and our PBT grew by 16% to Rs 215.1 crore."

During the last fiscal, Pitti's company acquired 50© stake in Jeewani Hospitality to develop a 150-room Radisson Blu hotel in Ayodhya, catering to 1.5 lakh daily visitors. It Introduced EaseMyTrip Insurance Broker Private Limited, entering the Rs 7.9 trillion insurance industry to broaden service offerings beyond travel.

“These initiatives underscore our commitment to enhancing customer satisfaction and expanding our service offerings. We remain dedicated to serving our customers with excellence and meeting the evolving needs of the market,” added Pitti.