EaseMyTrip Posts INR 36 Cr Loss In Q2 Due To INR 51 Cr Exceptional Item

Online travel aggregator (OTA) Easemytrip slipped into the red in Q2 FY26, reporting a net loss of INR 36 Cr against a net profit of INR 26.8 Cr in the year-ago quarter. The company had reported a net profit of INR 44.3 Lakh in the preceding June quarter.

Operating revenue fell 18% to INR 118.3 Cr from INR 144.7 Cr in the year-ago quarter. On a sequential basis, the OTA’s top line improved 4% from INR 114 Cr. 

Including other income of INR 8.1 Cr, total income stood at INR 126.5 Cr. Meanwhile, total expenses rose 7% YoY to INR 120.3 Cr.

During the quarter under review, the company’s bottom line was impacted by an exceptional item loss of INR 51 Cr. The exceptional item pertained to a general sales agent (GSA) agreement that EaseMyTrip had entered with a scheduled passenger airline operator under the UDAAN scheme of the Indian government in January 2022.

“The company had given advance adjustable against ticket sales and refundable GSA deposit, and the agreement with subsequent addendums was extended to March 31, 2028. As at September 30, 2025, the total amount recoverable from the operator amounts to INR 50.96 Cr, comprising deposits, advances, and receivables,” EaseMyTrip said.

While the company said it is making continuous efforts to recover the amount, it decided to provision for the entire amount as a “matter or prudence”. However, it didn’t disclose the name of the operator.

The company’s profit before exceptional items and tax plunged 81% YoY to INR 5 Cr. 

EBITDA crashed over 70% YoY to INR 12.1 Cr. 

Further, its gross booking revenue (GBR) fell over 5% YoY to INR 1,958.7 Cr during the quarter under review. While 76% of the GBR came from its flights business, hotels and holiday packages business accounted for 22%.

EaseMyTrip recorded yet another weak quarter for its core businesses. Its largest business, air ticketing, witnessed a 22% YoY decline in revenue to INR 72.1 Cr and its profit plunged 64% YoY to INR 9.8 Cr. 

While revenue for its hotel and holiday packages business declined 2% YoY to INR 31.8 Cr, the company incurred a net loss of INR 5.3 Cr from this business against a profit of INR 8.5 Cr in the year-ago period. 

Meanwhile, revenue from other businesses, which include train booking, bus booking, among others, declined 26% YoY to INR 14.4 Cr. The company, however, claimed that  bookings in the train, buses and other segments rose 16% YoY to 3.3 Lakh. 

The company said that its non-air business grew “leaps and bounds” in the quarter, with both hotels and holiday packages vertical and trains, buses and other segments recording upticks in bookings during the quarter under review. 

EMT’s Dubai operations recorded a GBR of INR 361.7 Cr in the quarter, growing 110% YoY.

Important to mention that this is the fourth consecutive quarter when EaseMyTrip has recorded a YoY decline in top line.

Despite the declining financial health, chairman Nishant Pitti said that Q2 was also notable for strategic innovation and partnerships. 

“We strengthened our portfolio through key acquisitions and collaborations, enhanced our visibility through marquee events, all while maintaining our focus on delivering exceptional customer satisfaction and sustainable growth. As I step into the role of chairman and managing director, my priority is to reinforce EaseMyTrip’s long-term vision and strategic direction, create lasting value for our shareholders, and continue driving innovation that shapes the future of travel,” he said.

Shares of the company ended Friday’s trading session 0.13% lower at INR 7.96 on the BSE.