Travel service providers Easy Trip Planners Q4 profit drops 23% to Rs 23 cr

Online travel service provider Easy Trip Planners Ltd on Wednesday reported a 23.4 per cent decline in consolidated net profit at Rs 23.34 crore for the fourth quarter ended March, impacted by lower revenue and higher expenses.

The company, which operates under the EaseMyTrip brand, had posted a consolidated net profit of Rs 30.47 crore in the same quarter of previous fiscal, Easy Trip Planners said in a regulatory filing.

Consolidated revenue from operations during the quarter under review stood at Rs 60.9 crore as against Rs 66.47 crore in the corresponding period a year ago, it added.

Air segment bookings grew by 13 per cent to 20.5 lakh in the fourth quarter as compared to 18.2 lakh in the year-ago period, the company said.

Total expenses during the quarter were higher at Rs 32.98 crore as compared to Rs 27.18 crore in the year-ago period.

For the fiscal year ended March 31, 2022, consolidated net profit was at Rs 105.92 as against Rs 61.01 crore in the previous fiscal, the company said.

In FY22, consolidated revenue from operations stood at Rs 235.37 crore as against Rs 138.5 crore in FY21, Easy Trip Planners said.

In the ongoing fiscal, the company said it aims to continue its growth across the air ticketing segment and expand its hotels and holidays segments too. It will look to open corporate offices across UK and US markets as part of efforts for global expansion.

The company has already established its corporate office in Dubai.

On the outlook, Easy Trip Planners said, "We believe that the next few years are set to be the golden period for Indian OTAs (online travel agents) as the travel and aviation industry, with significant support from the government, will witness a strong growth trajectory.