EaseMyTrip reported a 98% drop in profit after tax to 44 lakh (US$52,800) in Q1 FY26.

The Delhi-based online travel platform also reported a 25.5% decline in operating revenue, which fell to 114 crore rupees (US$13.68 million) from 153 crore rupees (US$18.36 million) year-on-year.

Air ticketing, which made up half of the revenue, dropped 47% to 57 crore rupees (US$6.84 million), while hotel packages contributed 32.5 crore rupees (US$3.9 million), or 28.5% of total revenue.

Total income stood at 120 crore rupees (US$14.4 million), down from 156 crore rupees (US$18.72 million) last year.

Expenses rose 8% to 118 crore rupees (US$14.16 million), with service costs down 5% to 18 crore rupees (US$2.16 million).

🔗 Source: Entrackr

🧠 Food for thought

1️⃣ Company-specific challenges overshadow broader market growth

EaseMyTrip’s steep decline contrasts sharply with the booming global online travel agency sector, highlighting company-specific execution issues rather than market-wide problems.

While EaseMyTrip’s revenue dropped 25% and profits collapsed 98%, the global OTA market was valued at $253.2 billion in 2024 and is projected to grow to $533.7 billion by 2034 at a 7.9% annual growth rate1.

EaseMyTrip’s air ticketing segment fell 47% to Rs 57 crore, while global flight booking services generated over $80 billion in revenue in 2024, accounting for more than 30% of the total OTA market1.

Major competitors like Booking Holdings reported $46.7 billion in gross bookings in Q1 2025, demonstrating that well-positioned OTAs continue to capture growing travel demand2.

The contrast suggests EaseMyTrip faces operational or competitive challenges that prevent it from participating in the sector’s overall expansion.

2️⃣ Intense competition pressures smaller OTA players

EaseMyTrip’s struggles reflect the challenging competitive dynamics facing smaller OTA platforms against dominant global players in an increasingly consolidated market.

OTAs now hold a commanding 55% share of the total travel booking market, but this dominance is concentrated among a few major players3.

Recent EaseMyTrip developments