Shares of Easy Trip Planners Ltd. are trading flat after touching a day’s high of Rs 42.95 on 17th September, following the announcement that the board approved the acquisition of a 30% stake in Rollins International for Rs 60 crore and a 49% stake in Pflege Home Healthcare Center for Rs 30 crore.

For Rollins International, the company will pay for the 30% stake by issuing its own fully paid-up equity shares on a preferential basis, using an equity share swap.

Whereas for Pflege Home Healthcare Center, the company bought existing shares for Rs 20 crore and subscribed to new shares for an additional Rs 10 crore, also using an equity share swap.

Earlier this month, the company announced plans to enter the EV manufacturing sector. Its board approved setting up a wholly-owned subsidiary to produce electric buses, pending necessary approvals from the Ministry of Corporate Affairs.

Last month, the company’s co-founder Prashant Pitti said, according to reports, that the focus will remain on profit growth, with an emphasis on expanding into non-air travel services and international markets. Revenue grew 23.1% to Rs 152.6 crore in the June quarter, up from Rs 124 crore last year. Earnings before interest, tax, depreciation, and amortisation (EBITDA) increased by 34.9% to Rs 46.8 crore, with the margin improving to 30.7% from 28%.

Profit after tax (PAT) rose 30.9% to Rs 33.9 crore, up from Rs 25.9 crore last year. So far in 2024, the stock has delivered a nominal return of just 3%. The company’s market capitalisation stands around Rs 7,419 crore.

At 2:23 PM, the shares of EaseMyTrip were trading 0.81% lower at Rs 41.86 on NSE.

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