Fall in EaseMyTrip Shares Continued: Check Why?

EaseMyTrip’s share price continued to drop for the second consecutive session on January 2, 2025, falling by over 2%. The shares opened at ₹15.69 and reached a day low of ₹15.33 at 11:45 AM. This decline follows a slump of more than 7% in the previous two trading sessions.

Why EaseMy Trip Shares are Falling?

The primary reason behind the fall in  EaseMyTrip shares is the exit of Nishant Pitti, one of the co-promoters of Easy Trip Planners Ltd. (the parent company of EaseMyTrip). Nishant Pitti announced plans on Monday evening to sell his remaining 14% stake in the company through block deals. However, he only managed to sell 1.4% of that stake on Tuesday.

In light of recent developments, EaseMyTrip has appointed Rikant Pittie, another promoter of the company, as the new CEO with immediate effect. The company stated that Rikant will lead strategic initiatives, drive innovation, and enhance customer experiences to strengthen EaseMyTrip’s position in the industry.

Previous Stake Sale by Nishant Pitti

Earlier, in June 2023, Nishant Pitti sold 6.25 crore shares of Easy Trip Planners. A significant portion of this stake was bought by retail investors, leading to a substantial increase in retail shareholding. Retail shareholding in Easy Trip Planners has risen from 6% during its IPO in 2021 to nearly 34% today.

Easy Trip Planners Q2FY25 Results

For the quarter ending September 30, 2024, Easy Trip Planners (EaseMyTrip) reported a 45.2% year-on-year decline in consolidated net profit, which dropped to nearly ₹26 crore. Despite the profit drop, the company’s net sales grew by 2.1%, reaching ₹144.7 crore for the July-September period. The profit before interest, depreciation, and taxes (PBIDT) for the same quarter decreased by 37.5%, falling to ₹42.3 crore.

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