The shares of Easy Trip Planners, the company running the EaseMyTrip platform, are witnessing a tremendous increase for three consecutive days. If we look at the figures, there has been an increase of 60 percent in the company’s shares from Monday to Wednesday. This increase has come due to the company’s plan to raise funds up to Rs 500 crore. This is part of the company’s ongoing strategy to grow in key growth areas and strengthen its financial strength. The company on Saturday received in-principle approval from the board to raise funds by issuing equity shares and/or other eligible securities. Let us also tell you what kind of figures are being seen for the company’s shares in the stock market.
Increase in company shares
On Wednesday, there was a good rise in the company’s shares and the company’s shares reached the day’s high of Rs 10.57. According to the data, after the market closed, the company’s shares closed at Rs 9.64 on BSE with a rise of 1.47 percent. However, the company’s shares had opened at Rs 9.81 in the morning. Whereas a day earlier the shares of the company had closed at Rs 9.50. However, the company’s shares have seen a rise of more than 60 percent in three consecutive days. On February 13, the company’s shares closed at Rs 6.61. Whereas on February 18, the company’s shares reached the day’s high of Rs 10.57. This means that the company’s shares have seen a rise of 60.15 percent during the trading session.
Where will the company spend the money?
The company said in an exchange filing on Saturday that the purpose of the proposed capital raise is to help EaseMyTrip expand into high-potential segments, especially hotel and holiday, as well as to continuously invest in improving technology, platform and strategic opportunities in line with its long-term business priorities. The move is aimed at providing greater flexibility to meet growth efforts while maintaining a disciplined approach to capital allocation.
How were the company’s quarterly results?
The company achieved a consolidated net profit of Rs 5.85 crore in the third quarter of the current financial year. Whereas in the second quarter the company had suffered a loss of Rs 33 crore. However, its profit after tax i.e. PAT decreased year-on-year, which was Rs 34 crore in the same period last year. Revenue from operations in this quarter stood at Rs 152 crore, whereas it was Rs 151 crore in the same period a year ago. The company’s gross booking revenue stood at Rs 2,213.2 crore, while its Earnings Before Interest, Taxes, Depreciation and Amortization i.e. EBITDA was seen at Rs 14 crore. Shares of EaseMyTrip, listed on March 19, 2021, have been a very poor performer. The stock has fallen 95 per cent from its issue price of Rs 187 per share. It was listed on NSE at Rs 212 at a premium of 13 per cent.