Easemytrip Incorporates Subsidiary In Brazil

Online travel aggregator Easemytrip has incorporated a wholly owned subsidiary, Easy Trip Planners Do Brasil Ltda, in Brazil.

In a filing with the exchanges, the company said this comes in line with expansion of the company’s tour and travel business in the international market.

“The company has incorporated a wholly owned foreign subsidiary in Brazil on 30 January 2025,” it said.  

The subsidiary has been set up with an Initial subscription of 1,000 shares at 1,00 Brazilian Real each. Easy Trip Planners Do Brasil Ltda will own 100% stake in the venture. 

This development comes at a time when the travel aggregator announced its foray into the insurtech sector with the launch of its new insurance arm.

EaseMyTrip undertook a slew of acquisitions in the recent past to bolster offerings and diversify product portfolio. In December 2023, the startup acquired a non-controlling stake of about 13% in Eco Hotels and Resorts in a share-swap deal to enter the hotel and hospitality industry.

It also received the board nod to acquire 51% stake each in three Indian travel companies last July, namely Mumbai-based Guideline Travels Holidays, Jammu & Kashmir-based TripShope Travel Technologies, and New Delhi-headquartered Dook Travels.

 EaseMyTrip reported a 42.8% decline in its consolidated profit after tax (PAT) at INR 26.8 Cr in the second quarter (Q2) of the financial year 2024-25 (FY25) from INR 46.9 Cr in the year-ago quarter. 

In December, Nishant Pitti, cofounder, chief executive, and promoter of EaseMyTrip, offloaded a 1.41% stake, or 5 Cr shares, through a block deal, which lowered his stake in the company to 12.80%. As per NSE data, Pitti sold 4,99,52,163 shares at INR 15.68 apiece, with the deal amounting to INR 78.3 Cr. 

Shares of Easy Trip Planner, closed 8.01% higher than INR 13.49 on the BSE on Friday  (January 31).