EaseMyTrip Announces 50% Interim Dividend After Skyrocketing Profit Growth

  • The company said the total interim dividend payment is ₹10.86 crore.
  • EaseMyTrip announced its first dividend in April 2021 almost a month after listing.
  • The company posted a more than 330% year-over-year increase in consolidated net profit in the second quarter of 2021.

Travel ticketing platform Easy Trip Planner – calling itself EaseMyTrip – has declared an interim dividend of 50% or ₹1 per share of par value ₹2 for the 2022 financial year which ends March of the next year.

The company said the total interim dividend payment is ₹10.86 crore.

Said Equity Share Dividend will be credited to members on the records of depositories as the beneficial owners of the Equity Shares as of November 22. The interim dividend will be paid no later than December 10, 2021.

EaseMyTrip announced its first dividend in April 2021 almost a month after its IPO.

The latest development comes shortly after EaseMyTrip announced its financial results for the July-September 2021 quarter. The company reported a more than 330% year-over-year increase in consolidated net profit.

Its revenue also increased by 164% year-on-year to ₹59.7 crore in the July-September quarter.

BI India

The financial statements also highlighted that EaseMyTrip had 2.5 times more airline bookings and 11 times more hotel night bookings compared to the previous quarter. Gross Booking Revenue (GBR) stood at ₹895.1 crore in the June to September quarter.

“EaseMyTrip has a unique sustainable and profitable model and our results have consistently demonstrated this all the time. Even in this fiscal year, we have seen phenomenal growth across all segments during S1FY22 [first half of financial year 2022]. It also reflects a strong recovery in India’s travel industry, which has been severely impacted by the pandemic,” said Nishant Pitti, Managing Director and Co-Founder of EaseMyTrip.

The company offers access to over 400 international and domestic airlines, over a million hotels as well as train/bus tickets and taxi hire across India.

EaseMyTrip was founded in 2008 and claims to have over 11 million customers. It also has offices in India and in international markets such as the Philippines, Singapore, Thailand, UAE, UK and USA.

SEE ALSO

Curefit, the parent company of Cult.fit, is the 36th unicorn in town

Zomato has officially withdrawn from all international markets

Nykaa is now bigger than Coal India, Britannia, IRCTC and almost double Hero MotoCorp