EaseMyTrip.com hotels provide 58.2% of quarterly operating revenue

EaseMyTrip.com generated 58.2% of its Q2 FY27 revenue from operations from hotels and holiday packages, although the segment represented 28.9% of gross booking revenue (GBR). The difference came as hotel room nights rose 87.5% year on year to 7.9 lakh, while train, bus and other transactions fell 39.0% to 2.0 lakh.

Why do hotels and holiday packages account for more EaseMyTrip.com revenue than booking value?

Hotels and holiday packages accounted for 58.2% of EaseMyTrip.com revenue from operations in Q2 FY27, compared with 28.9% of GBR. This 29.3-percentage-point difference means the segment supplied a bigger proportion of reported operating revenue than booking value during the quarter. The presentation separately identifies flights as 69.6% of GBR but only 35.7% of revenue from operations.

The mix also contrasts with trains, buses and others, which made up 1.4% of Q2 FY27 GBR and 6.1% of revenue from operations. The presentation does not provide segment-level revenue amounts or take rates, so it does not quantify revenue earned per hotel booking, flight booking or rail and bus transaction. It does state that EaseMyTrip.com is focusing on hotels and holiday packages, which the presentation says offer higher profit margins.

How fast did EaseMyTrip.com hotel bookings grow in Q2 FY27?

EaseMyTrip.com hotel and holiday package room nights grew 87.5% year on year to 7.9 lakh in Q2 FY27 from 4.2 lakh in Q2 FY26. The addition of 3.7 lakh room nights nearly doubled hotel volume and coincided with the segment becoming the largest contributor to quarterly revenue from operations by mix.

For the first half, room nights rose 91.0% to 14.4 lakh in H1 FY27 from 7.5 lakh in H1 FY26. The half-year increase of 6.9 lakh room nights was larger than the Q2 increase because it covers two quarters. EaseMyTrip.com reported consolidated H1 FY27 GBR of Rs 4,829.42 crore and revenue from operations of Rs 292.70 crore, alongside a 20.0% increase in GBR from Rs 4,024.49 crore in H1 FY26.

What happened to EaseMyTrip.com train, bus and other transactions?

EaseMyTrip.com train, bus and other transactions declined 39.0% year on year to 2.0 lakh in Q2 FY27 from 3.3 lakh in Q2 FY26. This was the opposite direction to the hotel business, whose Q2 room nights increased by 3.7 lakh. The train, bus and other category nonetheless retained a 6.1% share of quarterly revenue from operations, against 1.4% of GBR.

The H1 comparison shows a similar contraction: transactions fell 42.9% to 4.3 lakh in H1 FY27 from 7.6 lakh a year earlier. That reduction of 3.3 lakh transactions occurred while hotel room nights increased by 6.9 lakh over the same half-year comparison. The presentation groups trains, buses and other activities together, so it does not show whether the decline came mainly from rail, bus, charter, cruise, activities or another service.

How did the business-mix change align with EaseMyTrip.com financial performance?

EaseMyTrip.com reported Q2 FY27 GBR of Rs 2,458.46 crore, up from Rs 1,958.70 crore in Q2 FY26, while revenue from operations increased to Rs 157.99 crore from Rs 118.34 crore. GBR therefore rose Rs 499.76 crore, whereas operating revenue rose Rs 39.65 crore. Revenue from operations equalled 6.4% of GBR in Q2 FY27, compared with 6.0% a year earlier.

Adjusted revenue was Rs 183.33 crore in Q2 FY27, or 7.5% of GBR, compared with Rs 161.40 crore, or 8.2%, in Q2 FY26. Adjusted income increased to Rs 193.34 crore from Rs 169.52 crore, but its share of GBR fell to 7.9% from 8.7%. EaseMyTrip.com reported profit before tax of Rs 3.80 crore in Q2 FY27, versus Rs 6.12 crore a year earlier, and a profit after tax loss, excluding exceptional items and associated tax benefit, of Rs 0.57 crore versus a Rs 36.04 crore loss.

What operating costs changed during EaseMyTrip.com Q2 FY27?

EaseMyTrip.com discounts to customers were Rs 64.28 crore in Q2 FY27, equal to 2.6% of GBR, compared with Rs 57.49 crore and 2.9% in Q2 FY26. Employee expense was Rs 31.92 crore, or 1.3% of GBR, versus Rs 31.17 crore and 1.6%. Marketing and sales promotion fell to Rs 19.50 crore from Rs 22.15 crore and represented 0.8% of GBR rather than 1.1%.

Other expenses, including payment gateway charges in the presentation's operating-efficiency grouping, rose to Rs 65.81 crore in Q2 FY27 from Rs 44.87 crore a year earlier. In the detailed financial table, payment gateway charges were Rs 19.59 crore and other expenses were Rs 46.22 crore, compared with Rs 14.17 crore and Rs 30.70 crore respectively in Q2 FY26. Total expense reached Rs 189.54 crore from Rs 163.40 crore, while its GBR share declined to 7.7% from 8.3%.

Conclusion

EaseMyTrip.com's Q2 FY27 mix shows that hotels and holiday packages were the principal contributor to revenue from operations, at 58.2%, despite flights remaining the largest GBR category at 69.6%. Room-night growth of 87.5% and a 39.0% decline in train, bus and other volumes indicate that its non-air mix shifted unevenly, with hotel activity expanding while another combined non-air category contracted.

The next disclosures to watch are whether hotel room-night growth continues beyond the 14.4 lakh recorded in H1 FY27 and whether train, bus and other transactions recover from 4.3 lakh. EaseMyTrip.com's disclosed plan is to expand its product portfolio, particularly hotels and holiday packages, which the presentation says offer higher profit margins; future quarterly mix disclosures will show how that focus translates into GBR, revenue from operations and costs.