EaseMyTrip announces interim dividend of 50% after stellar profit growth

• The company said that the total payout of the interim dividend is ₹10.86 crore.
• EaseMyTrip has announced its first dividend in April 2021 almost a month after its listing.
• The company reported over 330% year-on-year increase in its consolidated net profit in Q2 of 2021.

Travel ticketing platform Easy Trip Planner — which goes by the name EaseMyTrip — has declared an interim dividend of 50% or ₹1 per equity share of the face value of ₹2 for the fiscal year 2022 that ends in March next year.

The company said that the total payout of the interim dividend is ₹10.86 crore.

The said dividend on equity shares will be credited to the members as per the records of the depositories as beneficial owners of the equity shares, as on November 22. The interim dividend will be paid on or before December 10, 2021.

EaseMyTrip has announced its first dividend in April 2021 almost a month after its listing on the stock exchange.

The latest development comes soon after EaseMyTrip announced its financial result for July to September quarter of 2021. The company reported over 330% year-on-year increase in its consolidated net profit.

Its revenue also grew another 164% year-on-year to ₹59.7 crore in the July-September quarter.

The financial statement also highlighted that EaseMyTrip witnessed a 2.5 times higher air bookings and 11 times higher hotel nights booking compared to previous quarter. The gross booking revenue (GBR) stood at ₹895.1 crore in the June to September quarter.

“EaseMyTrip has a uniquely sustainable and profitable model and our results have consistently demonstrated this all the time. Even in this fiscal, we witnessed phenomenal growth across all segments in the H1FY22 [first half of financial year 2022]. It also reflects a strong recovery of India's travel sector, which was severely impacted by the pandemic,” Nishant Pitti, chief executive and cofounder of EaseMyTrip, said.

The company offers access to more than 400 international and domestic airlines, over one million hotels as well as train/bus tickets and taxi rentals across India.

EaseMyTrip was founded in 2008 and claims to have more than 11 million customers. It also has offices across India and international markets like Philippines, Singapore, Thailand, the UAE, the UK, and the USA.

SEE ALSO
Cult.fit’s parent company Curefit is the 36th unicorn in town

Zomato has officially pulled out of all international markets

Nykaa is now bigger than Coal India, Britannia, IRCTC and almost double of Hero MotoCorp