EaseMyTrip co-founder Prashant Pitti pledges share worth Rs 93.6 crore for 'personal use'

New Delhi, July 4 (IANS) Prashant Pitti, co-founder and executive director of online travel platform EaseMyTrip, has pledged 9 crore shares in the company to Motilal Oswal Financial Services for "personal use".

The pledge was created on June 26 and amounts to around 2.54 per cent of EaseMyTrip’s total equity, according to its regulatory filing to Bombay Stock Exchange (BSE).

Based on the current market price (Rs 10.40), the value of the pledged shares is estimated at approximately Rs 93.6 crore.

While the exact purpose behind the personal use has not been revealed, such pledging by promoters often raises concerns among investors about the promoter’s financial position and the company’s future shareholding stability.

This development comes at a time when the company is already in the spotlight.

Earlier this year, EaseMyTrip issued a public clarification denying any link with the Mahadev Betting App, after the Enforcement Directorate carried out searches in relation to the case.

The company stressed that it follows ethical business practices and is fully cooperating with authorities.

On the business front, the company, led by Nishant Pitti, posted a net profit after tax (PAT) of Rs 13.9 crore in Q4 FY25, down from Rs 34 crore in Q3 FY25.

EaseMyTrip reported a slight dip in its revenue for the fourth quarter of the financial year 2024-25 (Q4 FY25), which came in at Rs 139 crore, down from Rs 164 crore in the same quarter the previous year.

On a year-on-year (YoY) basis, the drop was even steeper, with revenue down 15 per cent from Rs 164 crore reported in Q4 FY24.

However, for the full fiscal year, the company’s revenue remained stable at Rs 587 crore. Profits before tax for FY25 stood at Rs 143 crore.

As of 2:07 p.m., EaseMyTrip shares were trading at Rs 10.40, down by Rs 0.02 or 0.19 per cent on Bombay Stock Exchange (BSE) on Friday.

--IANS

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