Leadership Changes at EaseMyTrip

EaseMyTrip co-founder Prashant Pitti has stepped down from his position as Managing Director with immediate effect, signalling a significant leadership change within the online travel agency. In his resignation letter, Prashant expressed that his choice was motivated by a commitment to mentoring emerging startups, exploring new business opportunities, and focusing on urban traffic solutions along with other initiatives aimed at public welfare. He will continue to be a promoter and long-term investor in the company, emphasising that there is no intention from any promoter to sell shares.

Following his departure, the board of directors has appointed Nishant Pitti as Chairman and Managing Director, while Vikas Bansal has been named Whole-time Director. The board has also ratified the appointment of SMD & Co. as the Secretarial Auditor for a period of two years and has made modifications to the company’s Memorandum of Association.

Previous Management Changes

This marks the second significant reshuffle in the leadership of EaseMyTrip. Earlier in January, Nishant Pitti resigned from the CEO position for personal reasons, leading to Rikant Pitti taking over as the new CEO.

In a further commitment to the company’s future, promoters Nishant and Rikant Pitti have voluntarily chosen to temporarily forgo their salaries to align with the interests of shareholders and bolster confidence in EaseMyTrip’s long-term growth trajectory.

Financial Performance Overview

These changes come in light of EaseMyTrip’s recent unsatisfactory financial performance, which indicated a revenue decline of 25.5%, dropping to Rs 114 crore in Q1 FY26 from Rs 153 crore in Q1 FY25. The profit after tax (PAT) witnessed a remarkable fall of 98.7%, decreasing to Rs 44 lakh in Q1 FY26 compared to Rs 34 crore in Q1 FY25.

As of 2:36 PM, EaseMyTrip’s shares were trading at Rs 8.35, reflecting a dramatic 96% drop from their initial listing price of Rs 212. The company currently holds a market capitalisation of Rs 3,036 crore, which approximates to $344 million. On August 26, the stock reached an all-time low of Rs 8.29.