EaseMyTrip jumps over 14% as company ventures into electric bus manufacturing through a subsidiary

The establishment of Easy Green Mobility aligns with EaseMyTrip’s vision to capture a significant share of the evolving market and capitalise on the growing demand for electric vehicles (EVs) in India. It stands as a testament to the brand’s committed approach to driving the sector’s growth and offering the best and most innovative technology solutions.

EaseMyTrip, through its subsidiary Easy Green Mobility, will be operating via YoloBus; YoloBus aims to redefine intercity bus travel for Indian passengers through unparalleled services. It has a network covering over 250 routes across India and has served over 1,00,000 travellers. Additionally, through YOLO Bus, EaseMyTrip will accelerate the nationwide transition to net zero carbon mobility in Buses. By 2027-28, the target is to operate 2000 plus electric buses across the country.

Coming to the latest quarterly results, the total revenue for the quarter ended June 2024 of ₹105.9 crore was 3.5% higher than ₹102 crore of Q1FY24. Comparatively good net profit growth of 30.95% to ₹34 crore was reported for Q1FY25 compared to ₹ 26.1 crore of the previous year same quarter.

The company's Board of Directors, in a meeting held on September 05, 2024, approved the incorporation of Easy Green Mobility. Easy Trip Planners (EaseMyTrip) is the second-largest online travel agency in India in terms of gross revenue.

Following the announcement, shares of Easy Trip Planners jumped over 14% to hit high of ₹44.3 apiece on the NSE, later closed at ₹42.7 apiece, higher by 10%.