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Easy Trip Share Price Rises 6%; No Plan to Sell Further Stake Says Nishant Pitti

Updated on: Jan 6, 2025, 2:19 PM IST
Ease My Trip's share price rises 6% as Nishant Pitti sells 1.4% stake for personal reasons, confirming no plans for further stake sales.
Easy Trip Share Price Rises 6%; No Plan to Sell Further Stake Says Nishant Pitti
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Easy Trip Planners’ share price (NSE: EASEMYTRIP) traded 6.64% higher, up for the second consecutive session at ₹16.54 at 10:00 AM on the NSE. The stock opened at ₹18.25 on January 6, 2025, higher than ₹15.15 at the previous close. The share price gained more than 1% in the previous trading session.

Nishant Pitti’s Stake Sale Explained

According to news reports, Nishant Pitti, a co-promoter of Easy Trip Planners, confirmed on the social media platform that he has no plans to sell further stakes in the company.

Easy Trip’s shares garnered attention last week after Nishant Pitti revealed on Monday that he would exit the company by selling his remaining 14% stake. However, only 1.4% of the stake was sold, and Pitti resigned the next day.

As per news reports, the 1.4% stake he sold recently was for personal reasons, and neither he nor his colleagues Prashant and Rikant Pittie intend to sell additional shares. Pitti also emphasised that his 14.2% stake was never fully available for sale.

Following the sale, Nishant Pitti resigned as CEO, with Rikant Pittie taking over the role, while Nishant will remain Chairman.

Q2 FY25 Financial Highlights

Easy Trip Planners reported a gross booking revenue (GBR) of ₹2,075.64 crore for Q2 of FY25, a 2.47% increase year-on-year. The hotel and packages segment saw a significant 178.4% YoY growth, reaching ₹241.4 crore in GBR.

Meanwhile, the trains, buses, and other segments generated a GBR of ₹40.7 crore, reflecting a 19.4% YoY rise.

About Easy Trip Planners

EaseMyTrip, founded in 2008, is an online travel platform, providing a comprehensive range of end-to-end travel solutions. The company offers a wide variety of services, including flight bookings, hotel reservations, bus and train tickets, holiday packages, and more.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Published on: Jan 6, 2025, 10:07 AM IST

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