EasyTrip reports strong performance in Q1EASEMYTRIP - 39 Change: 0.45 (1.17 %)
News: Easy Trip Planners reported healthy set of results for Q1FY23. Gross revenue increased 168% YoY, 34% QoQ to Rs131.5 crore on sharp rebound in the domestic air traffic post full resumption of activities. This quarter also had a benefit of low base effect on YoY and QoQ basis. EBITDA increased 134% YoY to Rs41.6 crore. Reported PAT of Rs33.8 crore were up 125% YoY, 45% QoQ.
Views: With full resumption and higher air fares, the company has been able to scale-up business rapidly. With gross booking revenue (GBR) at Rs1663 crore for Q1, the company is on track to achieve expected GBR of Rs6400 crore (up 72% YoY) for FY23E.