Easy Trip Planners added 3.76% to Rs 615.30 after the company announced an agreement with InterGlobe Technology Quotient for providing seamless access to ITQ's travel commerce platform - Travelport (1G).
The agreement is worth $10 million as advance revenue from ITQ, the company said.
Sandeep Dwivedi, chief operating officer at InterGlobe Technology Quotient, said: "EaseMyTrip has grown over the years with our direct partnership and with this agreement, new channels of growth and expansion will open up. As one of the fastest growing online travel platforms, EaseMyTrip has been at the forefront of travel booking and has become a household name. Our agreement along with the commitment to innovate and offer cutting-edge technologies will bring greater developments for both companies in the future.
The association between EaseMyTrip and ITQ is over a decade old, starting in 2009. Speaking of the long-term association, Nishant Pitti, co-founder and CEO of EaseMyTrip said, This is an exciting turning point in our journey with ITQ and Travelport, and we are delighted about this new development. The advantages for both, our business and customers, will be huge and help transform our entire travel booking experience. With the gradual recovery of the travel sector, we believe that this agreement certainly presents impressive prospects for a promising future.
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.
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