EaseMyTrip Q1: Profit Crashes 99% YoY to INR 44 Lakh

Online travel aggregator (OTA) Easemytrip saw its consolidated net profit plunge about 99% to INR 44.3 Lakh in Q1 FY26 from INR 33.9 Cr in the year-ago quarter, as revenue slumped and margins deteriorated. Sequentially, the company’s profit declined 97% from INR 13.9 Cr. 

Operating revenue tumbled over 25% to INR 113.8 Cr during the quarter under review from INR 152.6 Cr in the year-ago quarter. On a quarter-on-quarter basis, revenue declined 18% from INR 152.6 Cr. 

Including other income of INR 5.9 Cr, EaseMyTrip’s total income for the quarter stood at INR 119.7 Cr. Meanwhile, its expenses rose 8% YoY to INR 117.7 Cr.

The company’s EBITDA crumbled over 86% YoY to INR 6.9 Cr. Further, its gross booking revenue (GBR) fell over 10% YoY to INR 2,065.8 Cr during the quarter under review. It is pertinent to mention that the company didn’t share comparative numbers for its EBITDA performance in its statement.

EaseMyTrip recorded a weak quarter for its core airline business, with the revenue from the segment declining over 46% YoY to INR 57 Cr. The segment’s profit dropped 97% YoY to INR 1.3 Cr. Without giving a rationale behind the decline in revenue, the company’s chairman Nishant Pitti said that EaseMyTrip saw an average of 24,230 flights booked daily. 

Revenue from the hotel packages business grew 18% YoY to INR 32.5 Cr. However, the vertical plunged into operating loss. It recorded a loss of INR 58.6 Lakh as against a profit of INR 5.1 Cr in the year-ago quarter. 

EaseMyTrip claimed that it “delivered strong Q1 FY26 growth led by hotels & packages”. In the statement, the company said that the hotel and holiday bookings on its platform grew 81.2% YoY to 3.3 Lakh in the quarter.

Meanwhile, revenue from other businesses, which includes train booking, bus booking, among others, zoomed 38% YoY to INR 24.4 Cr. However, its profit plunged 83% YoY to INR 1.2 Cr. The company said that the other business segment recorded a 41.4%YoY growth, with bookings increasing to 4.3 Lakh from 3.1 Lakh.

In the company’s disclosures, there wasn’t a concrete explanation behind the notable decline in the business. On the contrary, it said that the business growth was strong. 

“Despite the global headwinds in the travel industry, these performances reflect the strength of our diversified portfolio, our destination-focused strategies, and our capacity to stay ahead of changing traveler needs in both leisure and business segments,” Pitti said.

The company’s board also approved three more acquisitions today:

— Acquisition of a 50% stake in London-based realty company Three Falcons Notting Hill Ltd for its premium property through a secondary investment of INR 175 Cr

— Acquisition of a 100% stake in AB Finance Pvt Ltd to own its premium commercial asset property in Gurugram through another secondary investment of INR 194.4 Cr

— Without divulging numbers, the company said it is eyeing a strategic investment in Vashu Bhagnani Industries Ltd (VBlL). The company operates Pooja Entertainment, which is engaged in the business of film production and distribution

All three acquisitions will be made via share swap.

This adds to the OTA’s spree of acquisition over the past year or so, which has seen it enter similar amalgamation deals with the likes of Jeewani Hospitality, Rollins International, Pfledge Home Health Care Center and Planet education. 

Of these, Rollins International’s acquisition fell through in the quarter under review. 

Besides this, the quarter also saw EaseMyTrip come under scrutiny due to its cofounder Nishant Pitti’s alleged connection with the Mahadev betting app case. On April 16, the Enforcement Directorate conducted a search at one of the company’s premises and at the residence of Pitti. 

In the raids, the ED seized INR 7 Lakh from Pitti’s residence. EaseMyTrip has maintained that it and the cofounder have no connection with the Mahadev app betting case.

Notably, the company’s shares have been on a free fall this year. On a year-to-date basis, shares of EaseMyTrip have plunged nearly 42%. The stock plunged to an all-time low of INR 8.76 earlier this week. 

Shares of EaseMyTrip ended today’s trading session 3.72% higher at INR 9.20 on the BSE.

(Edited by: Vinaykumar Rai)