This online travel agency stock opened 13.33 per cent higher today; here's why
The company plans to consider bonus issue after Board approval.
Ease Trip Planners Limited, which runs under its flagship brand EaseMyTrip provides online ticket booking services, hotel bookings and holiday packages and various other services through its online portal and mobile application.
Ease trip planner is profitable since its inception and is the only profitable online travel agency (OTA) in India among the other OTAs. The company has a well-diversified business model – B2C which comprises 86.5 per cent of gross booking volume, B2B2C comprises 10.7 per cent of gross booking volume and B2E 2.7 per cent of gross booking volume.
The stock jumped almost 20 per cent because the company is planning to issue bonus shares to its shareholders and a board meeting is scheduled to be held on Wednesday, November 23, 2022. The board is expected to consider and approve the allotment of bonus equity shares.
Revenue for Q2FY23 of the companies stands at Rs 104 crore which is the highest after the covid breakout. The revenue jumped 74 per cent YoY. The ROE and ROCE for the company are 52.9 per cent and 65.9 per cent.
Today the stock opened at Rs 54.00 which is 13.33 per cent higher than the previous close of Rs 47.65. The highs and lows were 57.15 and 51.70, respectively.