Easy Trip Planners announces record date for 1:1 bonus issue; here’s how stock reacted
Shares of Easy Trip Planners gained over 1% intraday on Monday after the travel company announced the record date for determining shareholders eligible for the issuance of 1:1 bonus shares. The New Delhi-based online travel company has fixed November 28, 2024, as the record date for the bonus issue. The company, which made its market debut in March 2021, has previously issued bonuses on two occasions -- in the ratio of 3:1 in November 2022 and 1:1 in February 2022.
Easy Trip Planners shares opened lower at ₹29.55, down 1.9% over the previous closing price of ₹30.13 on the BSE. During the session, the stock gained as much as 1.4% to ₹30.56, while it dropped 3.6% to hit a low of ₹29.05 on the BSE.
At the time of reporting, shares of Easy Trip Planners were down 0.43% to ₹30 per share, while the market capitalisation stood at ₹5,316 crore. The stock is currently down 44% from its 52-week high of ₹54 touched on February 8, 2024, while it hit a 52-week low of ₹28.45 on October 23, 2024. The counter has lost 24% in a year; 32% in six months; and 26% in the calendar year 2024.
In an exchange filing on November 18, 2024, Easy Trip Planners said that the shareholders of the company issued bonus shares in the ratio of 1:1. The proposal has already been approved by the board of directors.
“The company has fixed Thursday, November 28, 2024 as the Record Date for the purpose of determining the members eligible for the issue of bonus equity shares,” the release noted.
The company released its September quarter earnings report on November 15, posting a 45.17% drop in its consolidated net profit at ₹25.87 crore as compared to ₹47.18 crore in the year ago period. The revenue from operations rose 2.1% year on year (YoY) to ₹144.67 crore in Q2 FY25. On the operating front, EBITDA dropped 37.48% YoY to ₹42.29 crore, while margin reduced to 28.2% as against 46.8% in Q2 FY24.
During the quarter under review, gross booking revenue (GBR) stood at ₹2,075.64 crore, growing by 2.47% YoY. The hotel segment and packages, with GBR reached ₹241.4 crore, marking a 178.4% YoY growth, while revenue from other bookings grew by 19.4% to ₹40.7 crore.
In Q2 FY25, EaseMyTrip has made significant strides in expanding its business, operations, partnerships and enhancing customer experiences through various initiatives. The company launched Easy Green Mobility, a wholly-owned subsidiary to manufacture electric buses, aimed at tapping into the rapidly growing Indian electric bus market, projected to grow at a CAGR of 24% from 2024 to 2030.
Easy Green Mobility will manufacture EV buses, with YoloBus as its operational arm, marking a commitment to ecofriendly travel solutions. The company is investing ₹200 crore for R&D, product development, and establishing a manufacturing plant over the next 2-3 years, targeting the rapidly growing Indian electric bus market, which is projected to grow at a CAGR of 24% from 2024 to 2030.
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