EaseMyTrip.com, one of India’s largest online travel tech platforms, continues its robust profitability as it posted record Q3FY23 Gross Booking Revenue (GBR) numbers driven by a strong volume growth in the Flight and Hotel segment. The growth is poised towards the company’s unwavering customer trust and continued market excellence.
This quarter, EaseMyTrip achieves another milestone in the Gross Booking Revenue (GBR) and records a highest ever GBR of INR 2,267.0 Crores up from INR 1,977.7 Crores a quarter ago. The 9MFY23 Gross Booking Revenue stood at INR 5,907.8 Crores, which is 1.6x of its full-year FY22 Gross Booking Revenue of INR 3,715.6 Crores. On a Year-on-Year basis, GBR for the quarter improved by a whopping 75 percent pointing towards EaseMyTrip’s solid industry position and consecutive gain of the market share.
EaseMyTrip’s core segments viz. Airlines and Hotels bookings grew by 31 percent and 88 percent respectively YoY during Q3FY23 and 65 percent and 121 percent respectively during 9MFY23. The sturdy growth resulted from the strong seasonal push, vigorous festive spending and was backed by multitude of market strategies deployed across each segment.
Adjusted revenue for the quarter too surged closer to INR 200 Crore quarterly run rate standing at INR 196.2 Crores, for Q3 FY23, a growth of 29 percent YoY and 16 percent QoQ. On a YTD basis, the company reported a strong growth of 65 percent YoY in the nine-month ending Dec’22.
EaseMyTrip continues its tradition of profitability in the quarter ending Q3FY23 with a Profit Before Tax (PBT) of INR 57.3 Crores as compared to INR 38.8 Crores in the preceding quarter. Profit After Tax (PAT) for the quarter also improved to INR 41.7 Crores from INR 28.2 Crores a quarter ago.
EaseMyTrip’s focus on the expansion strategy has led to its Dubai subsidiary business thriving, after its inception in April 2022, continuing to further outline EaseMyTrip’s strong business proposition in international markets. The Dubai business reported solid growth and clocked a cumulative Gross Booking Revenue of INR 75.1 Crores during 9MFY23. The quarterly Gross Booking Revenue has increased to INR 44.2 Crores, from the previous quarter’s Gross Booking Revenue of INR 23.8 Crores, registering a QoQ growth of 85.9%.
Further, the company signed an exclusive General Sales Agreement (GSA) with Go First Airlines (erstwhile Go Air) to sell, promote and market passenger tickets and other services in the Kingdom of Saudi Arabia for at least three years. The company will also be extending operations of Go First by opening an independent branded office and representing the airlines in Dammam & Riyadh, Saudi Arabia and other locations. This is in continuance with the company’s disciplined efforts to expand its footprints globally and become a truly global OTA.
EaseMyTrip’s primary focus remains on providing the best booking experience possible to its customers. The company achieves this by providing the best deals & offers to them and ensuring their travel needs are met. It also takes pride in providing the best after-sales services to its customers which is possible because of EaseMyTrip’s in-house 24*7 call centres. In order to drive above-market growth rates, margin and profitable expansion, EaseMyTrip has fostered several collaborations and partnerships and has curated various programmes for the customers to enhance their experience altogether. EaseMyTrip has introduced an invite-only programme called EMTPRO, for its elite customers with the key feature being ‘Refer Now & Earn Forever’. It has also introduced a similar programme for its shareholders – EMTFAMILY, which is its effort to give back to the shareholders who have placed their trust in the company. EaseMyTrip added ~4.3 Lac customers during the quarter bringing the aggregate number to 1.38 Crores.
During the quarter, EaseMyTrip has also forayed into EaseMyTrip Franchise, a flagship brand which promises at providing an in-person retail store experience to the customers. This enables the company to tap into a new set of offline customers especially in Tier II cities and expand its reach, even deeper in the domestic markets.
Lastly, EaseMyTrip has made two major acquisitions – Nutana Aviation and CheQin. Nutana Aviation IFSC Private Limited, involved in the business of Air Charter services, will enable EaseMyTrip to scale up its business for renting and booking of charter aircrafts. Further, acquiring majority stake in CheQin, a first-of-its-kind, real-time marketplace for hotels, allows travellers to bargain with hoteliers over hotel tariff. This acquisition is in line with EaseMyTrip’s focus on developing its non-air segment and would further strengthen its hotel channel in terms of technology, adaptability, personalisation, and acceptance of bulk booking and long-stay requests.
Key Milestones achieved by the Company
Gross Booking Revenue
EaseMyTrip surpassed its full previous year’s GBR in less than nine months of FY23, clocking INR 5,907.8 Crores in GBR in 9MFY23 as compared to INR 3,715.6 Crores in full FY22. For Q3FY23, the company recorded a highest ever GBR of INR 2,267.0 Crores up from INR 1,977.7 Crores a quarter ago. On a Year on-Year basis GBR for the quarter improved by a whopping 75 percent pointing towards EaseMyTrip’s solid industry position and consecutive gain of market share.
EaseMyTrip continues its tradition of being profitable in the quarter finishing Q3FY23 with a Profit Before Tax (PBT) of INR 57.3 Crores as compared to the INR 38.8 Crores in the preceding quarter. Profit After Tax (PAT) for the quarter too improved to INR 41.7 Crores from INR 28.2 Crores a quarter ago.
EaseMyTrip acquired 55% stake in CheQin, a unique real-time marketplace for hotel bookings which allows travellers to bargain directly with the hoteliers. This acquisition puts the company in a great position to give the customers a wide range of innovative hotel booking options at the most competitive prices.
EaseMyTrip acquired 75% stake in the Gujarat GIFT City based flight charter services company called Nutana Aviation Capital IFSC Private Limited which will open up a new revenue vertical for the company and further aid the company’s growth.
EMT PRO – An invite-only programme for our customers
EaseMyTrip launched a special, invite-only programme where the customers will be enrolled into a ‘Refer Now & Earn Forever’ scheme, allowing them to access offers like exclusive fares on various flight and hotels bookings, buy 2 nights get 1 free on more than 500 hotels, etc.
EMTFAMILY – A special programme for our shareholders
EaseMyTrip introduced an invite-only special programme for its elite shareholders, who will be enrolled into a ‘Refer Now & Earn Forever’ programme, enabling them to get exciting cash-backs on flights, hotels, holidays, buses and train bookings for a period of one year by referring a new user to book from EaseMyTrip website or mobile application.
Foray into EaseMyTrip Franchise
EaseMyTrip Franchise, a flagship brand of EaseMyTrip, aims at providing a retail store experience to its customers who are looking for a meet and greet kind of experience. With this, the company is tapping a new set of offline customers that will enable them to expand its reach. Under this, anyone who wishes to start a travel business and has a good network of HNI Clients, Cluster of customer base, Network of Societies, Associations, and who can pull a huge walk-in business can open an EaseMyTrip Franchise.
General Sales Agreement with Go First Airlines
EaseMyTrip signed an exclusive General Sales Agreement with Go First Airlines to sell, promote and market passenger tickets and other services to passengers in Saudi Arabia.
Agreement to Boost Tourism in Assam
EaseMyTrip signed a Memorandum of Understanding (MoU) with the Assam Tourism Development Corporation (ATDC) to boost tourism in the state by providing white label solutions and uninterrupted customer support for hotel bookings.
International Indian Film Academy and Awards (IIFA) 2023
EaseMyTrip became the official travel partner for the International Indian Film Academy and Awards (IIFA) 2023 which will be held in the Middle East’s largest state-of-the-art indoor entertainment venue, the Etihad Arena in Yas Island, Abu Dhabi. The event will be graced by superstars from the entertainment industry including Salman Khan, Karan Johar, Kriti Sanon, amongst others.
First World Tennis League
EaseMyTrip became the official travel partner for the first World Tennis League held in the Coca Cola Arena in Dubai, which was broadcasted in more than 120 countries and featured leading international tennis players like Novak Djokovic, Nick Kyrgios, Iga Swiatek and Indian ace player Sania Mirza. The tournament also featured music concerts from popular artists like Tiesto, Deadmaus, Armin Van Burren amongst others.
Partnership with Sharjah Warriors Cricket Team
EaseMyTrip became the official travel partner of Sharjah Warriors owned by Capri Global, which was one of the six teams participating in a T20 tournament in the UAE organised by the Emirates Cricket Board. The EaseMyTrip brand logo was emblazoned on the jersey on the top right, signifying EaseMyTrip as the principal sponsor of the Sharjah Warriors.
Partnership with MobiKwik Zip
EaseMyTrip and MobiKwik Zip, India’s leading “Buy Now Pay Later” platform have collaborated to enable users to book their travel today and pay at a later date with attractive discounts on their flights, hotels and holiday bookings on EaseMyTrip.
EaseMyTrip attains highest ever GBR of 2,267 Crores in Q3FY23
New Delhi, February 06, 2023: EaseMyTrip.com, India’s one of the largest online travel tech platforms, announced its results today for the quarter and nine months ended 31st December 2022, reporting a Q3FY23 Gross Booking Revenue (GBR) of INR 2,267.0 Crores. Robust Gross Booking Revenue for EaseMyTrip is driven by a strong volume growth in the Flight and Hotels segment. The solid GBR growth points towards EaseMyTrip’s solid industry position and consecutive gain of the market share. The 9MFY23 Gross Booking Revenue stands at INR 5,907.8 Crores, which is 1.6x of its full-year FY22 Gross Booking Revenue of INR 3,715.6 Crores.
EaseMyTrip generated a strong top line growth as adjusted Revenue surged closer to INR 200 Crore quarterly run rate, standing at INR 196.2 Crores, for Q3 FY23, a growth of 29 percent YoY and 16 percent QoQ. Company’s Revenue from Operations for the quarter also grew significantly by 57.3 percent YoY and25.5 percent QoQ.
Led by a healthy top-line growth and persistent focus on operational efficiency, EaseMyTrip’s EBITDA for Q3FY23 improves to INR 58.9 Crores as compared to INR 40.2 Crores in preceding quarter. During the quarter, the company continued to invest in in-house capabilities by scaling up its workforce to accelerate operations, and boost rapid growth. Profit After Tax (PAT) for the quarter too improved to INR 41.7 Crores from INR 28.2 Crores a quarter ago.
Q3FY23 Key Highlights
Q3FY23 Financial Highlights
• Air segment booking grew by 31.0% YoY
• Hotel nights booking reported a jump of 88.2% YoY
• Added ~4.3 Lac customers during the quarter bringing the aggregate number to 1.38 Crore • Company records a highest ever GBR of INR 2,267.0 Crores
• The Adjusted Revenue was at INR 196.2 Crores in Q3FY23 surging closer to INR 200 Crore quarterly run rate
• PBT for the quarter stood at INR 57.3 Crores up 47.6% Q-o-Q
• PAT for the quarter stood at INR 41.7 Crores up 47.8% Q-o-Q
9MFY23 Financial Highlights
• Air segment booking was up by 64.6% YoY
• Hotel nights booking grew by 121.2% YoY
• Gross Booking Revenue stood at INR 5,907.8 Crores for 9MFY23 which is 1.6x its full-year FY22 Gross Booking Revenue of INR 3,715.6 Crores.
• The Adjusted Revenue was at INR 496.8 Crores in 9MFY23, which was a 64.5% increase YoY as compared to adjusted revenue of INR 301.9 Crores in the same period of previous fiscal • PBT for 9MFY23 stood at INR 140.5 Crores as against INR 111.1 Crores in the corresponding period, a 26.5% increase YoY
• PAT for 9MFY23 stood at INR 103.0 Crores as against INR 82.6 Crores in the corresponding period, a 24.8% increase YoY
Key Consolidated Financial Highlights
Particulars (INR in Mn)
Gross Booking Revenue (GBR)
Profit Before Tax (PBT)
Profit After Tax (PAT) #
Air Segments* (Nos)
Hotel Nights (Nos)
*Air segments net of cancellations
# Profit after Tax is excluding Other comprehensive income
EaseMyTrip (a public listed company at NSE and BSE) is India’s one of largest online travel platform in terms of air ticket bookings, based on the Crisil Report-Assessment of the OTA Industry in India, February 2021. Furthermore, growing at a CAGR of 78% during FY20-22 in profits, it is one of the fastest-growing internet companies. Bootstrapped and profitable since its inception, EaseMyTrip offers ‘End to End’ travel solutions including air tickets, hotels and holiday packages, rail & bus tickets as well as ancillary value- added services. EaseMyTrip offers its users the option of zero-convenience fees during bookings. EaseMyTrip provides its users with access to more than 400 international and domestic airlines, over 2+ million hotels as well as train/bus tickets and taxi rentals for major cities in India. Founded in 2008, EaseMyTrip has offices across various Indian cities, including Noida, Bengaluru, and Mumbai. Its international offices (as subsidiary companies) are in the Philippines, Singapore, Thailand, the UAE, the UK, the USA, New Zealand and London.
This release contains statements that may contain “forward-looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Easy Trip Planners Ltd future business developments and economic performance. While these forward-looking statements indicate our assessment and future expectations concerning the development of our business, several risks, uncertainties and other unknown factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to, general market, macro-economic, governmental and regulatory trends, movements in currency exchange and interest rates, competitive pressures, technological developments, changes in the financial conditions of third parties dealing with us, legislative developments, and other key factors that could affect our business and financial performance. Easy Trip Planners Ltd undertake no obligation to publicly revise any forward-looking statements to reflect future / likely events or circumstances.