EaseMyTrip eyes 100% growth this year

NEW DELHI: Online travel solutions provider EaseMyTrip is eyeing 100% growth this year on the back of demand recovery for tourism.

“Led by a surge in domestic travel, advance bookings...have doubled this year compared to last year. In fact, bookings are up three times in the past few days compared to mid-May.

“We anticipate a huge pent-up demand for the travel and tourism sector post the vaccination drive across India, giving us strong revenue visibility for years to come. All in all, we are hopeful of more than 100% growth vis-a-vis last year,” Nishant Pitti chief executive officer (CEO) and co-founder EaseMyTrip told PTI.

Pitti said the increased pace of vaccination in the country and the government’s decision to provide free visas to first five lakh tourists will boost the country’s inbound tourism as well as the economic activities and sectors that are dependent on it.

EaseMyTrip had reported a revenue of ₹106.69 crore and a profit after tax of ₹61 crore in the financial year 2020-21.

Pitti said the company did witness a downfall in the ticket bookings initially during the second wave, but the past few weeks have hinted at a return to normalcy despite state-centric lockdowns.

“We aim to continue with the record growth in the airline ticketing vertical with increased revenue margins and market share.

“With new avenues for growth from hotels and holiday sector and leveraging our existing base of customers for cross selling, we anticipate increased wallet share from our customers and will look at enhancing the revenues and profitability going forward,” he added.

The online travel company is also looking to expand overseas via its subsidiaries. EaseMyTrip has set up small subsidiaries in London, Singapore and Dubai— places with a huge Indian population.