Easy Trip Planners Q2 revenue up 34%, posts Rs 56.5 lakh loss

Easy Trip Planners Limited reported consolidated revenue from operations of Rs 157.992 crore for the quarter ended September 30, 2026, up 33.5% from a year earlier, but posted a consolidated net loss of Rs 56.5 lakh. Hotel-packages revenue rose to Rs 92.051 crore, while air-passage revenue declined and the air segment remained loss-making.

How did Easy Trip Planners perform in the September quarter?

Easy Trip Planners increased revenue from operations by 33.5% year on year and 17.3% sequentially to Rs 157.992 crore in the quarter ended September 30, 2026, while total income reached Rs 168.020 crore. Revenue was Rs 118.339 crore in the quarter ended September 30, 2025 and Rs 134.706 crore in the quarter ended June 30, 2026.

Easy Trip Planners reported a net loss after tax of Rs 56.5 lakh, compared with a Rs 11.688 crore loss in the preceding quarter and a Rs 36.043 crore loss a year earlier. The prior-year reported result included a Rs 50.957 crore exceptional item; before exceptional items and tax, the prior-year quarter recorded a profit after tax of Rs 4.984 crore, whereas the September 2026 quarter had no exceptional item.

Which segment drove Easy Trip Planners' revenue growth?

Easy Trip Planners' hotel-packages segment drove the increase, with revenue rising to Rs 92.051 crore from Rs 31.839 crore in the year-earlier quarter and Rs 67.628 crore in the preceding quarter. Its year-on-year increase of Rs 60.212 crore exceeded the group's Rs 39.653 crore revenue increase because the other two reported segments declined.

Air-passage revenue fell to Rs 56.306 crore from Rs 72.091 crore a year earlier, although it increased from Rs 54.746 crore in the June 2026 quarter. Other-services revenue declined to Rs 9.635 crore from Rs 14.409 crore a year earlier and Rs 12.332 crore sequentially, leaving hotel packages as the largest reported revenue segment in the September quarter.

Why did Easy Trip Planners report a loss despite higher revenue?

Easy Trip Planners reported a loss because its air-passage and other-services operations remained loss-making and it recognised a Rs 3.205 crore share of net losses from associates. Before this share of associate losses, the group recorded a profit of Rs 3.805 crore, compared with Rs 6.122 crore in the year-earlier quarter and a Rs 11.415 crore loss in the June 2026 quarter.

Hotel packages produced a segment profit of Rs 5.315 crore, reversing a Rs 5.315 crore segment loss a year earlier and a Rs 10 lakh loss in the preceding quarter. Air passage recorded a Rs 4.352 crore segment loss, versus a Rs 9.815 crore profit a year earlier, although its loss narrowed from Rs 9.433 crore in the June 2026 quarter. Other services reported a Rs 2.060 crore loss.

Service cost rose to Rs 38.955 crore from Rs 14.435 crore, payment-gateway charges increased to Rs 19.592 crore from Rs 14.170 crore, and other expenses rose to Rs 46.223 crore from Rs 30.697 crore. Advertising and sales-promotion expense declined to Rs 19.504 crore from Rs 22.152 crore, while finance cost fell to Rs 1.129 crore from Rs 1.320 crore.

After finance costs, depreciation and amortisation of Rs 3.994 crore, and unallocated income of Rs 10.025 crore, Easy Trip Planners recorded profit before tax of Rs 60 lakh. Tax expense was Rs 1.165 crore, resulting in the consolidated loss after tax of Rs 56.5 lakh.

What do Easy Trip Planners' cash flow and balance sheet show?

Easy Trip Planners generated net cash from operating activities of Rs 16.535 crore in the six months ended September 30, 2026, compared with net cash used in operating activities of Rs 17.475 crore in the corresponding prior-year period. The change included a Rs 18.646 crore positive net movement in working capital, despite a Rs 7.610 crore loss before the share of associate losses.

Cash and cash equivalents rose to Rs 107.673 crore at September 30, 2026 from Rs 80.217 crore at March 31, 2026. The Rs 27.456 crore increase reflected operating cash inflow of Rs 16.535 crore, financing cash inflow of Rs 11.552 crore and investing cash outflow of Rs 63.1 lakh; net proceeds from current borrowings were Rs 15.979 crore.

Total assets increased to Rs 1,478.689 crore at September 30, 2026 from Rs 1,208.356 crore at March 31, 2026. Investments accounted for using the equity method rose to Rs 357.378 crore from Rs 112.383 crore, total equity increased to Rs 1,050.994 crore from Rs 814.918 crore, and current borrowings rose to Rs 26.100 crore from Rs 10.122 crore.

What is the status of Easy Trip Planners' GST notice?

Easy Trip Planners disclosed a Rs 67.407 crore penalty in a Show-Cause cum Demand Notice from the Directorate General of Goods and Services Tax Intelligence, Mumbai Zonal Unit. The notice concerns alleged non-collection of Tax Collected at Source, or TCS, under Section 52 of the Central Goods and Services Tax Act, 2017, for October 2018 to December 2025.

Management is contesting the department's prima facie view that the holding company was liable to collect TCS. Based on independent legal opinions and judicial precedents, management said it believes it has a case on merits and does not expect a material financial outflow, so no provision was recognised in the consolidated September 2026 results. The filing states that the outcome depends on future proceedings with tax authorities.

The statutory auditor's limited-review report dated November 14, 2026 drew attention to the notice without modifying its conclusion. The report also said 18 subsidiaries were reviewed by other auditors, while two subsidiaries with total assets of Rs 1.099 crore at September 30, 2026 had unreviewed interim information that management considered not material to the group.

Conclusion

Easy Trip Planners' September-quarter revenue growth was driven by hotel packages, whose Rs 92.051 crore revenue more than offset declines in air passage and other services. However, the Rs 56.5 lakh consolidated loss shows that the Rs 5.315 crore hotel-packages segment profit did not fully counter the Rs 4.352 crore air-passage loss, other segment losses and the Rs 3.205 crore share of associate losses.

The next disclosed development to watch is the outcome of proceedings on the Rs 67.407 crore TCS notice, for which management has made no provision. Future quarterly filings will also show whether hotel-packages revenue can remain above air-passage revenue and whether the air-passage segment can move from its September-quarter loss to a positive result.