Easy Trip Planners Limited — Earnings Release 2023

May 26, 2023

May 26, 2023

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BSE Ltd. P J Towers, Dalal Street, Fort Mumbai – 400001 Scrip Code: 543272	National Stock Exchange of India Limited (NSE). Exchange Plaza, Bandra Kurla Complex, Bandra East, Mumbai – 400051 Symbol: EASEMYTRIP

Sub: Media Release

In terms of regulation 30 of the SEBI (LODR) Regulations, 2015, please find enclosed the press release titled “Highest–Ever GBR of Rs 8,051 Crores, Surges by 117% YoY in FY23” being issued to the media.

The aforesaid information will also be hosted on the website of the Company at www.easemytrip.com.

You are requested to take the aforesaid information on record.

Thanking you,

For Easy Trip Planners Limited

PRIYANKA Digitally signed by PRIYANKA TIWARI TIWARI Date: 2023.05.26 13:18:58 +05'30'

Priyanka Tiwari Group Company Secretary and Chief Compliance Officer Membership No.: A50412

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Highest–Ever GBR of Rs 8,051 Crores, Surges by 117% YoY in FY23

EaseMyTrip.com, a leading online travel technology platform in India, has demonstrated remarkable growth in various aspects during FY23. This year marks a special milestone of completing 2 years of being listed on the stock exchanges. For this fiscal, the company’s steady growth can be attributed to its sheer commitment towards customer centricity and satisfaction. The company has remained profitable throughout FY23.

Over the year, EaseMyTrip has strengthened its product line and marketing efforts by demonstrating exceptional marketing campaigns and brand-building activities that has built a stronger brand in the market. EaseMyTrip is true to becoming a global brand and have made the right advancements towards it. The company’s determination of growing inorganically has paved its way to further establishments into acquiring more companies. Moreover, this fiscal, EaseMyTrip expanded its footprints in the Indian market by venturing into the franchise business and inaugurated its first franchise store in Patna, Bihar, aiming to offer customers an in-store retail experience.

EaseMyTrip has continued to report tremendous growth in terms of financial performance as well as the company clocked its highest-ever Gross Booking Revenue in FY23 of INR 8,050.6 Crores, growing by 116.7% YoY. The company also reported strong growth of 68.6% in Adjusted Revenue in FY23, from INR 400.4 Crores in FY22 to INR 674.9 Crores in FY23

For the quarter, the company continued its growth momentum as the Gross Booking Revenue for Q4FY23 increased by 83.0% YoY to INR 2,142.8 Crores from INR 1,170.7 Crores in Q4FY22. Adjusted Revenue for Q4FY23 stood at INR 178.1 Crores, growing by a remarkable 81.0% YoY, as against INR 98.4 Crores in the same quarter of the previous fiscal. Q4 is seasonally weak quarter.

Since the beginning, the company has remained focused on growing profitably. In FY23, EaseMyTrip’s Profit After Tax (PAT) stood at INR 134.1 Crores, growing by 26.6% YoY, vis-à-vis a PAT of INR 105.9 Crores in FY22. PAT for Q4FY23 was at INR 31.1 Crores, as against INR 23.3 Crores, up by 33.1% YoY.

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GBR (in INR Cr) 8,050.6 Adjusted (in INR Cr) 674.9
Revenue
3,715.6 400.4
FY23
FY23
FY22
FY22
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EaseMyTrip has reported a substantial growth across all categories in FY23 in terms of operational performance. Air Passage volumes (net of cancellations) increased to 115.0 lakhs in FY23 as compared to 70.9 lakh bookings in FY22, increasing by 62.2% YoY. Hotels segment volumes increased to 3.5 lakhs in FY23, as compared to 1.6 lakh bookings in FY22, growing by a whopping 121.4% YoY. Bookings in the Trains, Buses, and others segment, saw a growth of 10.4% YoY, from 5.6 lakh bookings in FY22 to 6.2 lakh bookings in FY23.

The Dubai business is continuing its incomparable growth journey and is giving us more confidence every quarter in our unique business model. This quarter, the Dubai business clocked a Gross Booking Revenue of INR 43.3 Crores, despite being a seasonally weak quarter. The cumulative Gross booking Revenue since the inception of the Dubai business in April 2022 has crossed the INR 100 Crores mark and stood at INR 118.4 Crores in FY23.

Dubai Performance GMV

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(INR Cr)
44.2 43.3
23.8
7.1
Q4FY23
Q3FY23
Q2FY23
Q1FY23
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EaseMyTrip owes its success to several factors, including its steadfast dedication to competitive pricing which is made possible through the No-Convenience Fee and Full Refund on Medical Grounds strategy, and its commitment to offering superior customer service catering to the plethora of travel requirements. These attributes have fuelled the company's organic growth.

Additionally, collaborations with key partners have helped EaseMyTrip expand its reach, gain a strong foothold in both domestic and international markets, and attract a wider audience to its website and app. As a result, the company has established itself as the second-largest Online Travel Agency (OTA) in India and is recognized as a leading player in the industry.

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Key Milestones achieved by the Company

Completes 2 Years since Listing

EaseMyTrip completed 2 years as a listed company in March 2023 and celebrated this key milestone by providing jaw-dropping deals for its customers, employees, stakeholders, and vendors.

Highest-ever Gross Booking Revenue

The company continued its growth journey and reported a remarkable growth of 116.7% in the Gross Booking Revenue for FY23, clocking INR 8,050.6 Crores in the period. The Gross Booking Revenue for Q4FY23 also grew significantly, by 83.0% YoY, reaching INR 2,142.8 Crores in Q4FY23.

Profitability

In line with its history of being profitable since inception, EaseMyTrip reported a Profit After Tax (PAT) of INR 134.1 Crores in FY23 and INR 31.1 Crores in Q4FY23, growing by 26.6% and 33.1% year on year in the respective periods.

Dubai business crosses INR 100 Crores in Gross Booking Revenue

The Dubai business recorded yet another strong quarter in terms of Gross Booking Revenue and crossed the INR 100 Crores mark in Gross Booking Revenue for FY23. The Gross Booking Revenue for Q4FY23 was at INR 43.3 Crores, and for FY23 stood at INR 118.4 Crores.

Awarded as the “Best Online Travel Portal in India”

During the quarter, EaseMyTrip received one of the most prestigious titles, being recognised as the “Best Online Travel Portal in India” at the ET Ascent Business Leader of the Year awards.

Opens its first franchise store

EaseMyTrip launched its first offline retail store, in Patna, Bihar. This is a strategic move aligned with the company’s franchise business in India and the objective of expanding its footprints in the Indian market.

EMT Royale – A special programme for our elite customers

EaseMyTrip has introduced an exclusive program, EMT Royale, exclusively for its elite customers. This invite-only program offers highly personalized and tailored services for flight and hotel bookings, as well as holiday, charter, and cruise packages.

Our Collaborations

Advertisement agreement with Capri Global

EaseMyTrip have signed a 5-year advertising agreement with Capri Global Holdings, franchise owners of the Women’s Premier League’s UP Warriorz team, starting from the inaugural season in March 2023.

IBA Women’s World Championship 2023

In order to boost the brand visibility, EaseMyTrip became the associate sponsor for the IBA Women’s World Championship 2023. The tournament was broadcasted on various platforms such as SonyLiv, Sony Ten1, Sdon RODP & Doordarshan and received an immense viewership from across the country. The brand logo was displayed prominently on various merchandise, rooster lists, media dockets and live tv visuals which helped the brand gain a lot of traction in a short period of time.

Associate Sponsor of Chennai Blitz in the Prime Volleyball League

Associate sponsorship of the SPP group owned Chennai Blitz in the Prime Volleyball league proved to be tremendously beneficial for EaseMyTrip. With the logo visible prominently on team’s official first kit as well as the training kits along with the team’s marketing and communications collaterals and properties like website and other social media platforms, EaseMyTrip was able to reach innumerable audience and gain heavy traction on their website.

Republic Summit 2023

EaseMyTrip became the official travel partner at the Republic Summit 2023. The EaseMyTrip logo was strategically placed, and the branding was done across ILUs alongside the promotions. Furthermore, there was also a 60-90 second news story that flashed on the Republic Media Network, validating EaseMyTrip as the travel partner of the coveted conference. EaseMyTrip also partook in a broader commercial capacity within the summit as it was also the session sponsor partner during the engrossing session with eminent leaders.

HT Digital Collaboration

EaseMyTrip and HT Digital, one of the leading digital media brands in India, formed a collaboration wherein the customers of both the platforms will now be able to get discounted subscriptions and deals. Through this collaboration, EaseMyTrip is expanding its reach and looking to provide incomparable travel experiences to a broader audience.

Partnership with Swiggy

EaseMyTrip teamed up with Swiggy to create a unique offering which will enable the brand to tap into each other’s user base. EaseMyTrip users will be showcased enticing deals from Swiggy, making their travel planning experience more inclusive.

MoU with Government of Andhra Pradesh

EaseMyTrip signed a Memorandum of Understanding (MoU) with the state Government of Andhra Pradesh (GoAP) for a duration of three years, wherein, EaseMyTrip will undertake certain marketing initiatives for the promotion of tourism in the state.

Renewal of long-term agreement with InterGlobe Technology Quotient

EaseMyTrip and InterGlobe Technology Quotient, a leading travel tech provider have renewed their longterm agreement to have seamless access to Travelport+ (1G), which is an efficient travel commerce platform for booking of tickets.

MEDIA RELEASE

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Highest–Ever GBR of Rs 8,051 Crores, Surges by 117% YoY in FY23

New Delhi, May 26, 2023: EaseMyTrip.com, one of India’s largest online travel technology platforms, announced its results today for the quarter and financial year ended 31st March 2023. The company reported robust results, growing in both Q4FY23 and the full year FY23. The Gross Booking Revenue for FY23 grew by a tremendous 116.7% to INR 8,050.6 Crores, from FY22 Gross Booking Revenue of INR 3,715.6 Crores. This broad-based growth was a result of the company’s meticulous efforts to expand their reach and boost their brand presence and was aided by a pickup in all the segments of the company. Gross Booking Revenue for Q4FY23 was at INR 2,142.8 Crores, as compared to INR 1,170.7 Crores in Q4FY22, growing by 83.0% YoY.

Consequently, the Adjusted Revenue saw an impressive growth of 68.6% YoY in FY23, reaching INR 674.9 Crores, vis-à-vis INR 400.4 Crores in FY22. The Adjusted Revenue for Q4FY23 also recorded a robust growth of 81.0% YoY, from INR 98.4 Crores in FY22 to INR 178.1 Crores in FY23. EBITDA for FY23 stood at INR 191.3 Crores, growing by 30.2% YoY over FY22’s EBITDA of INR 146.9 Crores.

Profit after Tax (PAT) for FY23 was at INR 134.1 Crores, up 26.6% YoY, from INR 105.9 Crores in FY22, driven by better operating performance during the year. PAT for Q4FY23 stood at INR 31.1 Crores, as against INR 23.3 crores in the corresponding quarter, a growth of 33.1%.

FY23 Key Highlights

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Q4FY23 Financial Highlights

• Air segment booking grew by 1.6 times

• Hotel nights booking reported a jump of 2.2 times for Q4FY23

• Gross Booking Revenue stood at INR 2,142.8 Crores in Q4FY23 as against INR 1,170.7 Crores in Q4FY22, an increase of 83.0% YoY.

• The Adjusted Revenue was at INR 178.1 Crores in Q4FY23 which was an 81.0% increase YoY as compared to adjusted revenue of INR 98.4 Crores in the same quarter of previous fiscal.

• PAT for the quarter stood at INR 31.1 Crores as against INR 23.3 Crores in the corresponding quarter, a 33.1% increase YoY.

FY23 Financial Highlights

• Air segment booking was up by 1.6 times

• Hotel nights booking grew by 2.2 times for FY23

• Gross Booking Revenue stood at INR 8,050.6 Crores for FY23 as against INR 3,715.6 Crores, an increase of 116.7% YoY.

• The Adjusted Revenue was at INR 674.9 Crores in FY23, which was an 68.6% increase YoY as compared to adjusted revenue of INR 400.4 Crores in the previous fiscal.

• PAT for FY23 stood at INR 134.1 Crores as against INR 105.9 Crores in the corresponding period, an 26.6% increase YoY.

Key Consolidated Financial Highlights

Particulars (INR in Mn)	Q4FY23	Q4FY22	Y-o-Y	FY23	FY22	Y-o-Y
Gross Booking Revenue (GBR)	21,428.0	11,706.6	83.0%	80,505.6	37,155.9	116.7%
Adjusted Revenue	1,781.1	984.0	81.0%	6,749.1	4,003.5	68.6%
Profit Before Tax (PBT)	444.3	324.6	36.9%	1,849.4	1,435.7	28.8%
Profit After Tax (PAT)	310.6	233.4	33.1%	1,341.0	1,059.2	26.6%
PAT (% of GBR)	1.4%	2.0%	-54 bps	1.7%	2.9%	-118 bps
PAT Margins (% of Adj. revenue)	17.4%	23.7%	-628 bps	19.9%	26.5%	-659 bps
Air Segments* (Nos)	32,04,765	20,49,196	56.4%	1,14,95,718	70,85,400	62.2%
Hotel Nights (Nos)	1,01,365	45,679	121.9%	3,46,950	1,56,690	121.4%

• *Air segments net of cancellations

• PAT excluding Other Comprehensive Income

About EaseMyTrip :

EaseMyTrip (a public listed company at NSE and BSE) is India’s one of largest online travel platform in India, February 2021. Furthermore, growing at a CAGR of 59% during FY20-23 in PAT, it is one of the fastestgrowing internet companies. Bootstrapped and profitable since its inception, EaseMyTrip offers 'End to End' travel solutions including air tickets, hotels and holiday packages, rail & bus tickets as well as ancillary valueadded services. EaseMyTrip offers its users the option of zero-convenience fees during bookings. EaseMyTrip provides its users with access to more than 400 international and domestic airlines, over 2+ million hotels as well as train/bus tickets and taxi rentals for major cities in India. Founded in 2008, EaseMyTrip has offices across various Indian cities, including Noida, Delhi and Gurugram, Bengaluru, and Mumbai. Its international offices (as subsidiary companies) are in the Philippines, Singapore, Thailand, the UAE, the UK, the USA, New Zealand, and London.

Public Relations	Investor Relations
Ms. Bhavika Sharma	Mr. Basavraj Shetty
bhavika.sharma@easemytrip.com	basavraj.shetty@easemytrip.com
+91 98117 87304	+91 96253 14156
	Mr. Rajat Gupta
	rajat.gupta@easemytrip.com
	+91 98218 49374

Disclaimer:

This release contains statements that may contain “forward-looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Easy Trip Planners Ltd future business developments and economic performance. While these forwardlooking statements indicate our assessment and future expectations concerning the development of our business, several risks, uncertainties, and other unknown factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to, general market, macro-economic, governmental, and regulatory trends, movements in currency exchange and interest rates, competitive pressures, technological developments, changes in the financial conditions of third parties dealing with us, legislative developments, and other key factors that could affect our business and financial performance. Easy Trip Planners Ltd undertake no obligation to publicly revise any forwardlooking statements to reflect future / likely events or circumstances.