EaseMyTrip Shares Jump Over 10% On Centre’s Tourism

SUMMARY

Shares of EaseMyTrip surged 10.45 % to INR 14.90 during the intraday trading on the BSE today (February 1)

However, the stock paired back and was trading 7.93% lower at INR 14.56 at 2:00 PM

The company’s stocks were among the biggest losers with its shares also touching its all time weekly low closing at INR 13.76 on January 21

Shares of online travel aggregator Easemytrip

surged 10.45 % to INR 14.90 during the intraday trading on the BSE today (February 1) after finance minister Nirmala Sitharaman in her Union 2025 Budget speech promised investment for employment-led growth in the tourism sector.

However, the stock paired back and was trading 7.93% lower at INR 14.56 at 2:00 PM.

The New Delhi-based startup’s total market capitalisation is pegged at INR 5,138.92 Cr.

The finance minister announced a plan to develop 50 tourist destinations across India in coordination with state governments to expand tourism, generate employment, and improve infrastructure.

The surge in stock prices also comes on the back of the company’s expansion into overseas markets. Today (February 1), the company announced its incorporation with its wholly owned subsidiary, Easy Trip Planners Do Brasil Ltda, in Brazil.

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.

In fact in recent times, the company has doubled down on its efforts to venture into new terrains. With a slew of acquisitions, it entered the hospitality industry by acquiring a non-controlling stake of about 13% in Eco Hotels and Resorts in a share-swap deal to enter the hotel and hospitality industry.

Also, two weeks back the company forayed into the insuretech sector with EaseMyTrip Insurance Broker, incorporated as a distinct entity under the parent entity.

The listed traveltech player also picked up majority stakes in Mumbai-based Guideline Travels Holidays, Jammu & Kashmir-based TripShope Travel Technologies and New Delhi-headquartered Dook Travels.

The company recorded 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.

Moreover, its topline also remained flat for the quarter in review rising a nominal 2.1% to INR 144.6 Cr in Q2 FY25 from INR 141.6 Cr in the September quarter last year.