EaseMyTrip incurred a net loss of INR 15 Cr in the Q4 FY24, as against a profit of INR 45.6 Cr in the previous quarter
Supplier advances write-off and trade receivables write-off led to EMT’s loss-making quarter
In terms of revenue, the startup reported an operating revenue of INR 164 Cr in Q4, 40% higher YoY
Easemytrip
slipped into the red in the quarter ending on March 31, 2024 (Q4 FY24), and incurred a net loss of INR 15 Cr as against profit of INR 45.6 Cr in the previous quarter.
The loss can be directly attributed to its one-time expense of INR 72.4 Cr which consisted of “advances to supplier written off” and trade receivables that were written off. Excluding these write-offs, the company reported a profit of INR 39.1 Cr.
In the year-ago period, EMT had reported a profit of INR 31 Cr. On a full fiscal basis, EaseMyTrip posted a profit of INR 103.4 Cr in FY24, a 23% lower than INR 134.1 Cr.
In terms of revenue, the startup reported an operating revenue of INR 164 Cr in Q4, a marginal increase from INR 160.7 Cr in the previous quarter. This is 40.6% higher than the INR 116.5 Cr reported in the corresponding quarter in FY23.
Air ticketing continues to dominate in terms of revenue contribution adding INR 131.6 Cr this quarter, while the rest was earned from hotel package bookings, and other revenue streams.
On an annual basis, the startup’s EaseMyTrip’s operating revenue rose by 31.5% to INR 590.5 Cr in FY24, from INR 448.8 Cr.
Where Did EaseMyTrip Spend
In Q4FY24, EaseMyTrip’s total expenditure stood at INR 117.4 Cr, 11.8% higher than INR 105 Cr it had reported in the last fiscal. This is also 53% higher than INR 76.3 Cr reported in the corresponding quarter in FY23.
Advertising Expenses: One reason behind EaseMyTrip’s rise in expenses is its increase in advertising cost. In the quarter under review, the company spent INR 25.6 Cr for advertising, a 46.5% higher than INR 17.4 Cr it spent in the previous quarter.
Employee Benefit Expenses: The startup’s employee benefit expenses rose to INR 23.3 Cr in Q4 FY24, a 7.2% higher than INR 22.1 Cr it reported in the previous quarter.
Payment Gateway Cost: The latest quarter of FY24, the startup spent INR 14.7 Cr, a 14.2% higher than INR 12.9 Cr in Q3 FY24.
EaseMyTrip’s shares traded at INR 44.16 per share at the time market closed today.
