MakeMyTrip: Easy Trip loses booking war with MakeMyTrip in key holiday quarter
Easy Trip’s revenue rose 18% to Rs 161 crore ($19.4 million) for the third quarter ended Dec. 31. Its revenue has doubled in nearly every quarter since it went public in early 2021, before growth slowed to 42% and then to 31% in the previous two quarters.
Elevate Your Tech Prowess with High-Value Skill Courses
Offering College | Course | Website |
---|---|---|
IIM Lucknow | IIML Executive Programme in FinTech, Banking & Applied Risk Management | Visit |
IIT Delhi | IITD Certificate Programme in Data Science & Machine Learning | Visit |
IIM Kozhikode | IIMK Advanced Data Science For Managers | Visit |
India’s travel industry is thriving, with demand for air, road and rail travel as well as for hotels booming fuelled by rising disposable incomes. But online travel aggregators are locked in a battle to win customers, with analysts saying that MakeMyTrip has lower charges and better service.
The Nasdaq-listed MakeMyTrip posted its highest-ever quarterly gross bookings, revenue and profit for the October-December period on robust demand for leisure travel.
On the other hand, Easy Trip’s gross booking revenue — the total value of bookings before accounting for fees and charges — declined nearly 11% for the same period. About 90% of its bookings are for flights.
Its net profit rose about 10% to 456.6 million rupees in the quarter, while its net profit margins fell to 27.6% from 29.8%.
Discover the stories of your interest
The company said it is looking to boost its presence in the non-air travel business for which it took a 13% stake in a hotel company. On similar lines, MakeMyTrip said it had taken a majority stake in an inter-city car rental service called Savaari.
Easy Trip’s shares had hit a 13-month high earlier in the day but reversed course to end 2.6% lower after the results.
Easy Trip’s revenue rose 18% to Rs 161 crore ($19.4 million) for the third quarter ended Dec. 31. Its revenue has doubled in nearly every quarter since it went public in early 2021, before growth slowed to 42% and then to 31% in the previous two quarters.
Elevate Your Tech Prowess with High-Value Skill Courses
Offering College | Course | Website |
---|---|---|
IIM Lucknow | IIML Executive Programme in FinTech, Banking & Applied Risk Management | Visit |
IIT Delhi | IITD Certificate Programme in Data Science & Machine Learning | Visit |
IIM Kozhikode | IIMK Advanced Data Science For Managers | Visit |
India’s travel industry is thriving, with demand for air, road and rail travel as well as for hotels booming fuelled by rising disposable incomes. But online travel aggregators are locked in a battle to win customers, with analysts saying that MakeMyTrip has lower charges and better service.
The Nasdaq-listed MakeMyTrip posted its highest-ever quarterly gross bookings, revenue and profit for the October-December period on robust demand for leisure travel.
On the other hand, Easy Trip’s gross booking revenue — the total value of bookings before accounting for fees and charges — declined nearly 11% for the same period. About 90% of its bookings are for flights.
Its net profit rose about 10% to 456.6 million rupees in the quarter, while its net profit margins fell to 27.6% from 29.8%.
Discover the stories of your interest
The company said it is looking to boost its presence in the non-air travel business for which it took a 13% stake in a hotel company. On similar lines, MakeMyTrip said it had taken a majority stake in an inter-city car rental service called Savaari.
Easy Trip’s shares had hit a 13-month high earlier in the day but reversed course to end 2.6% lower after the results.