EaseMyTrip, one of India’s top online travel aggregators, faced a challenging Q2 FY26 as the company’s financials reflected a steep decline in both revenue and profitability. Operating revenue fell 19% YoY to ₹118 crore (from ₹145 crore in Q2 FY25), and the company swung to a net loss of ₹36 crore, compared to a profit of ₹27 crore a year earlier. The downward trend was also visible sequentially, with a net profit of just ₹44 lakh in Q1 FY26.
Quarter-on-Quarter & Year-on-Year Financial Comparison
| Quarter | Revenue from Operations | Total Income | Total Expenses | Net Profit (Loss) | Remarks |
|---|---|---|---|---|---|
| Q2 FY25 | ₹145 Cr | ₹150 Cr | ₹113 Cr | ₹27 Cr | Profitable, higher air ticketing revenue |
| Q1 FY26 | ₹113.8 Cr | ₹120 Cr | ₹118.3 Cr | ₹0.44 Cr | Marginal profit despite falling revenue |
| Q2 FY26 | ₹118 Cr | ₹126 Cr | ₹120 Cr | -₹36 Cr | Slide into loss, higher operating costs |
- H1 FY26: Revenue slid 22% to ₹232 crore (vs. ₹297 crore in H1 FY25), with expenses up and profit sharply deteriorating.
- The bulk of revenue continues to be from air ticketing (down 22% to ₹72 crore), while hotel packages contributed ₹32 crore (27% of revenue).
- Employee benefits soared by 24% YoY, and other major expenses included payment gateway charges, service costs, and advertising.
- Each rupee of revenue in Q2 FY26 was earned at a cost of ₹1.02—reflecting margin pressure.
Expansion and Strategic Developments
Despite turbulent financials, EaseMyTrip has not slowed its expansion ambitions:
- The company approved strategic acquisitions in hospitality, lifestyle, and entertainment—including stakes in London’s Three Falcons Hotel and four domestic ventures, as part of its “EaseMyTrip 2.0” diversification beyond core travel services.
- Investments in Dubai led to a 151% YoY increase in gross booking revenue from that market in Q1, signaling aggressive international growth efforts.
- The company acquired a new commercial property in Gurugram for strengthening operational infrastructure and is focusing on value-added travel solutions, integrated hospitality, and lifestyle experiences for customers across global and domestic markets.
- Promoters have opted to forego their salaries until consistent profitability returns.
Leadership Changes
EaseMyTrip refreshed its C-suite during the recent quarter. Sankalp Kaul took over as CTO and Manmeet Ahluwalia as CMO, reflecting renewed focus on technology, product, and brand evolution in response to intensifying competition and shifting market dynamics.
Read this: EaseMyTrip Enters Real Estate, Finance, Beauty & Hospitality as It Announces Rs 514 Crore Investment Deals
Outlook
The near-term financial setbacks stem from macroeconomic headwinds, intense competition, and increased costs. However, with a diversified strategy, ongoing investments in new sectors, and operational reforms, EaseMyTrip aims to rebound and build a robust, comprehensive travel and lifestyle platform—positioned for long-term sustainable growth.
