Friday, July 12, 2024

EaseMyTrip’s board approves issuance

BSE (543272) &  NSE (EASEMYTRIP) listed, EaseMyTrip ,India’s leading online platform has announced that its board has approved issuance of bonus shares with a view to allow its shareholders increase their equity and gain greater exposure to its future growth.

The board of directors, at its meeting held on recently have approved and recommended the issuance of fully paid-up bonus shares in the ratio of 1:1, out of its free reserves created out of profit, subject to the shareholders’ approval through a postal ballot and the record date will be announced in due course.

Commenting on the issuance of bonus shares, EaseMyTrip, CEO and Co-Founder Nishant Pitti said, “Despite the challenges faced due to the pandemic, EaseMyTrip has consistently recorded profitable results due to a sustainable and resilient business model.”

EaseMyTrip said the plan for bonus shares comes on the heels of strong results achieving a four-fold jump in profit in the second quarter of FY22. It has also declared interim dividends twice since its listing in March 2021.

The company has recently announced acquisition of companies like Spree Hospitality, Traviate and Yolobus to strengthen its presence in the non-air segment.

The company has also expanded its international footprint to six countries- the Philippines, Singapore, Thailand, the UAE, the UK, and the USA,” it said.

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