India’s one of the largest online travel platforms ━ EaseMyTrip ━ has declared the issuance of bonuses intending to allow its shareholders to increase their equity and gain greater exposure to its future growth. In the meeting, held on 12 January 2022, Wednesday, the board of directors 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.
The board of directors announced the bonus shares after the company had seen a profit jump of more than four-fold in Q2FY22. EaseMyTrip is also making efforts to strengthen the non-air segment and announced to acquire companies like Spree Hospitality, Traviata, and Yolobus. In order to make the company grow in all segments, the company has also declared interim dividends twice since its listing in March 2021.
In this context, Nishant Pitti, CEO and Co-founder of the EaseMyTrip commented, “Despite the challenges faced due to the pandemic, EaseMyTrip has consistently recorded profitable results due to a sustainable and resilient business model. He also added, looking at the new avenues for growth from the non-air segment and our continued focus on financial and operating efficiency, we will continue to generate value for our stakeholders. With the issuance of bonus shares, we want to reward our existing shares while allowing them to increase their equity in the group and gain greater exposure to our future growth”.
With a compound annual growth rate of 50%, EaseMyTrip has become one of the fastest-growing online companies, which offers end-to-end traveling solutions including holiday packages, hotels, tickets, etc. Now it is to see that, with these bonus shares, how will the company extend its growth.