Easy Trip Planners surged 13.26% to Rs 615.40 after the company expanded its international footprint by incorporating wholly-owned subsidiaries in the Philippines, Thailand, and the United States of America.
The company has forayed into these new countries as part of its second phase of the global expansion strategy and is anticipating a huge pent-up global demand for the travel and tourism sector in the coming months, Easy Trip Planners said.
EaseMyTrip has previously established its presence across countries such as the UAE, Singapore, and the UK to cater to their Indian customers traveling to these countries.
However, as a part of this new phase of expansion, the company will launch a localized travel search engine in each global subsidiary to enable the customers in the region to enjoy the value-based services of EaseMyTrip.
Currently, the search engine developed for the UAE is live, and the subsidiaries in Singapore, the UK, Philippines, Thailand, and the United States of America are set to follow suit.
The subsidiaries will also replicate the lean and cost-effective operating model that the brand has successfully adopted in India for over 13 years and will continue to pass on maximum benefits to customers in the respective regions.
More From This Section
In addition to this, the company will also explore opportunities with local companies and services across these countries to not only strengthen offerings within these countries but also to enhance the travel experience of their customers who visit these countries.
Nishant Pitti, CEO and Co-Founder, EaseMyTrip said, Philippines, Thailand, and the USA represent a significant part of our international holiday package business and we are excited to foray into these markets for this new phase of global expansion. With a strong pent-up travel demand across the world, we see a wider global market open for travel, and we believe that EaseMyTrip is well-poised for explosive growth internationally.
Easy Trip Planners (EaseMyTrip) is an online travel platform, offering end to end travel solutions which include air tickets, hotels and holiday packages, rail tickets & bus tickets as well as ancillary value-added services.
The company's consolidated net profit surged to Rs 15.43 crore in Q1 FY22 from Rs 2.50 crore in Q1 FY21. Net sales during the quarter jumped to Rs 18.70 crore from Rs 3.56 crore reported in the same period last year.
Powered by Capital Market - Live News