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Shares of online travel aggregator (OTA) EaseMyTrip (EMT) plunged to a 52-week low of INR 7.58 during the intraday trading today. However, the stock pared some of the losses to end the session at INR 7.72, down 3.02% from the previous close.

The stock has fallen over 50% year to date. Notably, the company has undertaken multiple bonus issues over the years, with the latest one in October 2024.

EMT’s market cap at the end of today’s trading session stood at INR 2,807.65 Cr (about $316.8 Mn). The company’s market cap at the beginning of the year stood at $610 Mn.

The decline today came after the company reported a weak financial performance for Q2 FY26 on Friday (November 14). It posted a net loss of INR 36 Cr as against a net profit of INR 26.8 Cr in the year-ago quarter. Operating revenue fell 19% YoY to INR 118.3 Cr, while expenses increased 7% YoY to INR 120.3 Cr.

The company incurred an exceptional item loss of INR 51 Cr during the quarter pertaining to a general sales agent (GSA) agreement that it had entered with a scheduled passenger airline operator under the UDAAN scheme of the Indian government in January 2022.

The company had given advance adjustable against ticket sales and refundable GSA deposit. The total amount recoverable from the operator amounts to INR 50.96 Cr, which the company made provision for during the quarter.

EaseMyTrip said that its non-air business grew “leaps and bounds” in the quarter, with both hotels and holiday packages vertical and trains, buses and other segments recording upticks in bookings during the quarter under review.

However, revenues for each of its segments – airlines, hotel and holiday packages, and others – declined significantly during the quarter.

The post EaseMyTrip Sinks To Fresh Low After Q2 Loss appeared first on Inc42 Media.