EaseMyTrip Q3 Profit Slumps 26% YoY To INR 34 Cr

Travel tech company EaseMyTrip’s consolidated profit after tax (PAT) crashed nearly 26% to INR 34.02 Cr in the third quarter of the fiscal year 2024-25 from INR 45.68 Cr in the year-ago quarter amid a degrowth in its top line.

However, PAT jumped 27% on a quarter-on-quarter basis from INR 26.79 Cr. Notably, this was the third consecutive profitable quarter for EaseMyTrip. The company slipped into the red in Q4 FY24 with a loss of INR 15 Cr.

The online travel aggregator saw its operating revenue slide 6% to INR 150.56 Cr in the December quarter from INR 160.78 Cr in the same quarter last year. On a sequential basis, it rose 4% from INR 144.67 Cr.

Had Easemytrip not shelled out INR 65 Cr as discounts to customers in the reported quarter, it would have clocked an operating revenue of INR 215.54 Cr.

Including other income of INR 3.24 Cr, the company’s total revenue stood at INR 153.81 Cr during the quarter under review.

In an investor presentation, EaseMyTrip said that its EBITDA stood at 51 Cr in Q3 FY25, up 21% from INR 42.29 Cr in the September quarter.

The air ticketing business continued to be the biggest revenue driver for EaseMyTrip. However,  revenue from this vertical slumped over 22% to INR 97.65 Cr in the reported quarter from INR 125.71 Cr in Q3 FY24. On a QoQ basis, it grew nearly 6% from INR 92.53 Cr.

Revenue from the hotels and packages segment surged 57% to INR 32.80 Cr in the October-December quarter from INR 20.89 Cr in the corresponding period last year. Revenue from this business was flat on a sequential basis. 

EaseMyTrip raked in INR 20.11 Cr from its other services segment in Q3 FY25, up 42% from INR 14.18 Cr in Q3 FY24 and 3% from INR 19.55 Cr in Q2 FY25.

The company’s gross booking revenue (GBR) stood at INR 2,148.86 Cr during the quarter ended December 2024. While hotel night booking on the platform zoomed 172% year-on-year to 2.5 Lakh, bookings in the train, buses and others segment grew 32% YoY to 3.6 Lakh. 

During Q3 FY25, EaseMyTrip diversified its offerings and expanded its product portfolio. In November 2024, The company forayed into the study tourism segment with the acquisition of Planet Education Australia.

A month later, OLX India partnered with EaseMyTrip to offer travel booking services on the OLX platform. 

Zooming Into Expenses

While EaseMyTrip’s sales took a beating, the company’s total expenses rose a little over 2% to INR 107.58 Cr during the quarter under review from INR 105 Cr in Q3 FY24.

Employee Costs: The spending under this head surged 19% YoY and 6% QoQ to INR 26.41 Cr during the quarter ended December 2024.

Advertising & Sales Promotion Expenses: EaseMyTrip spent INR 16.76 Cr in this bracket in Q3 FY25, down 4% from INR 17.48 Cr in Q3 FY24 and 32% from INR 24.47 Cr in Q2 FY25.

Payment Gateway Charges: The travel tech company paid INR 15.45 Cr in payment gateway charges in the reported quarter, up 29% YoY and 16% QoQ.

Founded in 2018 by the brother trio of Nishant, Rikant and Prashant Pitti, EaseMyTrip began its journey as an online travel agency but has since diversified its business to foray into insurtech and electric bus manufacturing.

In September last year, EaseMyTrip incorporated a wholly owned subsidiary Easy Green Mobility to foray into the electric bus manufacturing market. The company aims to operate over 2,000 ebuses across the country by 2027-28.

The same month, the company said it would acquire stakes in Rollins International and Pflege Home Healthcare Center, marking its foray into the medical tourism sector. Prior to that, EaseMyTrip also ventured into the insurtech sector with the launch of its new insurance arm, EaseMyTrip Insurance Broker.

It must be noted that EaseMyTrip cofounder Nishant Pitti stepped down as the company’s CEO in January 2025. He was succeeded by his brother Rikant Pitti. 

Ahead of the Q3 FY25 earnings announcement, shares of EaseMyTrip ended Friday’s trading session 2.61% lower at INR 11.94 apiece on the BSE.