With effect from January 1, Nishant Pitti, one of Easy Trip’s promoters, resigned as CEO, claiming personal reasons, according to an exchange filing. With immediate effect, Rikant Pittie, the company’s CFO and brother of Nishant pitti, has been appointed as new CEO.
The shares of Ease My Trip went on to touch the day low level of Rs 15.68 per share after hitting opening bell at Rs 15.86 per share on the Indian bourses.
Pitti sold 24.65 crore shares, amounting to 14 per cent of the total share capital, on September 25th, bringing the total amount sold to Rs 920 crore.
The shares of Easy trip planner were trading around Rs 15.75 per share on the NSE (National Stock Exchange), with a minor decline of 0.69 per cent amounting to a Rs 0.11 per share on the bourses.
Block deal on December 31
Nishant Pitti was reportedly looking to sell his share of the company earlier this week, according to reports. With co-founder Nishant Pitti as the seller, Easy Trip sold 4.99 crore shares, or 1.41 per cent of the company, for a total of Rs 78.32 crore in a block deal window on December 31.
Pitti sold 24.65 crore shares, amounting to a 14 per cent of the total share capital, on September 25th, bringing the total amount sold to Rs 920 crore. Pitti’s intention to sell his share of the business.
Easy Trip Planners Q2 FY25
Easy Trip Planners reported a 45.2 per cent decline in consolidated net profit to nearly Rs 26 crore for the quarter that ended on September 30 compared to the same period last year.
The company’s net sales for the July–September quarter increased 2.1 per cent year over year (Y-o-Y) to Rs 144.7 crore.
The company’s profit before interest, depreciation, and taxes (PBIDT) dropped 37.5 per cent year over year to Rs 42.3 crore in the September quarter.
