Easy Trip Planners Crashes 8% to 10-Month Low After Massive Block Deal. Here’s What Happened

Shares of Easy Trip Planners, one of India’s top online travel platforms, fell 8% today, dropping to ₹37.75—a 10-month low—after 17.6 crore shares (9.9% of the company’s total equity) were traded in a big block deal.

On Tuesday, it was reported that promoter Nishant Pitti plans to sell up to 8.5% of his stake in the company, worth around ₹622 crore. Currently, Easy Trip’s promoters hold a 64.3% stake, with Nishant Pitti being the largest at 28.13%. Institutional investors (FIIs and DIIs) hold 2.6% each, while the public owns the remaining 30.5%.

Recent Developments:

• Acquisitions: Easy Trip recently acquired a 49% stake in Pflege Home Healthcare and a 30% stake in Rollins International to boost its position in medical tourism.
• New Ventures: The company launched Easy Green Mobility to enter the electric bus market, aiming to produce 4,000–5,000 electric buses over the next few years. The buses will be used by YoloBus, its intercity bus service, with a ₹2 billion investment planned for R&D, product development, and a manufacturing facility.

Easy Trip Planners, a major player in the travel market, competes with companies like MakeMyTrip and Yatra Online. Its main revenue driver is air travel, making up 95% of its earnings in the first quarter, while hotel bookings contribute over 4%.

The company reported strong financials in Q1 FY25, with a 23% year-on-year increase in revenue, totaling ₹1,526 million, and a 34.5% jump in profit before tax at ₹471.8 million. Hotel and holiday bookings saw a 116.6% rise, and its Dubai operations grew by 139% year-on-year.