EaseMyTrip logs Rs 15 crore in net loss in Q4, revenue surges 41 pc
The revenue from operations by Nishant Pitti-led startup surged 41 per cent (year-on-year) to Rs 164 crore in Q4.
Online travel firm EaseMyTrip on Thursday said it has expanded its international footprint in the Philippines, Thailand and the US as part of its global expansion plans.
“The company has forayed into these new countries, anticipating a huge pent-up global demand for the travel and tourism sector in the coming months,” EaseMyTrip said in a regulatory filing.
As part of this expansion, the company will launch a localised travel search engine in each global subsidiary to enable the customers in the region to enjoy the value-based services of EaseMyTrip, it added.
“Philippines, Thailand, and the USA represent a significant part of our international holiday package business and we are excited to foray into these markets for this new phase of global expansion,” EaseMyTrip CEO and Co-Founder Nishant Pitti said.
With a strong pent-up travel demand across the world, the company sees a wider global market open for travel, and it believes that EaseMyTrip is well-poised for explosive growth internationally, he added.
The company has previously established its presence across countries such as the UAE, Singapore, and the UK to cater to their Indian customers travelling to these countries, EaseMyTrip said.
Currently, the search engine developed for the UAE is live, and the subsidiaries in Singapore, the UK, Philippines, Thailand, and the United States of America are set to follow suit, it added.
In addition, the company will also explore opportunities with local companies and services across these countries to not only strengthen offerings within these countries but also to enhance the travel experience of their customers who visit these countries, the filing said.
Shares of the company were trading at Rs 608.50 per scrip on BSE, up 11.99 per cent from its previous close.
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