Easy trip planners share plummets almost 10 per cent on the NSE (National Stock Exchnage), after 1 per cent equity shares changed hands in a block deal, took place in the morning block deal window.
According some reports, Nishant Pitti, a co-founder of EaseMyTrip, plans to sell his 14 per cent remaining stake in the business on December 31 for Rs 780 crore.
The stock went on to touch the day low of Rs 15.36 per share on indian bourses after hitting opening bell at Rs 15.71 per share which was 7.8 per down decline at opening bell level.
Easy trip planner shares were trading around Rs 15.67 per share on the Indian exchanges with a major decline of 8.04 per cent amounting to a Rs 1.37 per share on the bourses.
Previous stake sell from promoters
Through open market transactions, Nishant Pitti sold a 14 per cent stake in the company for Rs 920 crore in September of this year.
The shares were sold for between Rs 37.22 and Rs 38.28 each, bringing the total transaction value to Rs 920.06 crore.
Promoter shareholding pattern
Following the sale of his stake, Nishant Pitti’s ownership of Easy Trip Planners dropped from 28.13 per cent to 14.22 per cent. Furthermore, The promoters’ combined shareholding has also decreased from 64.30 per cent to 50.39 per cent.
Easy Trip Planner Q2 FY25
In comparison to the same quarter last year, Easy Trip Planners reported a 45.2 per cent decrease in consolidated net profit to almost Rs 26 crore for the quarter that ended on September 30.
For the July–September quarter, the company’s net sales climbed 2.1% per cent year over year (Y-o-Y) to Rs 144.7 crore.
In the September quarter, the company’s profit before interest, depreciation, and taxes (PBIDT) decreased 37.5 per cent year over year to Rs 42.3 crore.
