Shares of India’s one of largest online travel platforms hit a 20 percent lower circuit on BSE at Rs. 32.83 on Wednesday, after nearly 24.9 crore shares worth more than Rs. 900 crores exchanged hands via block deal, with sources indicating that the promoter is likely to sell its stake.
With a market capitalisation of Rs. 6,717.8 crores, at 10:29 a.m., the shares of Easy Trip Planners Limited were trading in the red at Rs. 37.92, down by nearly 7.6 percent, as against its previous closing price of Rs. 41.03.
What’s the News:
On Wednesday, September 25th, nearly 24.9 crore shares—representing a 14 percent equity of Easy Trip Planners—exchanged hands for around Rs. 948.2 crores at a floor price of Rs. 38 per share. Sources suggest that multiple institutional investors are likely to be the buyers.
Earlier, on September 24th, it was reported that promoter Nishant Pitti plans to sell up to 8.5 percent of his stake, equivalent to 15 crore shares, through block deals. This sale is estimated to be valued at Rs. 622 crores, with an indicative sale price of Rs. 41.5 per share.
According to shareholding data from June 2024 provided by the BSE, Nishant Pitti held around 49.84 crore equity shares, representing a 28.13 percent stake in Easy Trip Planners.
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Previous News:
On 5th September, EaseMyTrip announced entering into the electric bus manufacturing market through its new subsidiary, Easy Green Mobility.
Easy Green Mobility will manufacture electric buses, with YoloBus (another subsidiary of EaseMyTrip) serving as its operating arm.
This initiative marks a significant milestone in the brand’s commitment to tapping a new segment offering eco-friendly and innovative travel solutions, navigating its journey toward sustainable mobility.
EaseMyTrip is investing Rs. 200 crores for extensive research and development (R&D), product development, and setting up of a manufacturing plant over the next 2 to 3 years.
Financials:
The company experienced significant growth in its revenue from operations, showing a year-on-year rise of around 23.4 percent from Rs. 124 crores in Q1 FY24 to Rs. 153 crores in Q1 FY25.
Further, the net profit of Easy Trip Planners increased during the same period from Rs. 26 crores to Rs. 34 crores, indicating a growth of nearly 30.8 percent YoY.
On a year-on-year basis, the Earnings Before Interest, Taxes, Depreciation, and Amortisation, or EBITDA increased from Rs. 37.5 crores in Q1 FY24 to Rs. 50.6 crores in Q1 FY25, registering a growth of 34.7 percent.
Stock Performance
The stock has delivered negative returns of nearly 21.5 percent of returns in one year, as well as around 25.4 percent returns in the last six months. So far in 2024, the shares of Easy Trip Planners have given negative returns of about 19.3 percent.
About the Company:
Easy Trip Planners Limited is engaged in the business of providing reservation and booking services related to travel and tourism through ease my trip-portal, ease my trip-app or in-house call centre.
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Written by Shivani Singh
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