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Online travel platform EaseMyTrip has announced that the board of Directors has 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 postal ballot. The record date will be announced in due course.
The bonus shares come after the company announced a profit jump of more than four-fold in Q2FY22, generating strong and sustainable value for its stakeholders. In an effort to strengthen the non-air segment, EaseMyTrip has also recently announced acquiring companies like Spree Hospitality, Traviate and Yolobus. On the back of this growth across all segments, the company has also declared interim dividends twice since its listing in March 2021.
Commenting on the issuance of bonus shares, Nishant Pitti, CEO and Co-Founder, EaseMyTrip said, “Despite the challenges faced due to the pandemic, EaseMyTrip has consistently recorded profitable results due to a sustainable and resilient business model. Looking at the new avenues for growth from the non-air segment and our continued focus on financial and operational efficiency, we will continue to generate value for our stakeholders. Through the issuance of bonus shares, we want to reward our existing shareholders, allowing them to increase their equity in the group and gain greater exposure to our future growth.”
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