Easy Trip Planners’ CEO Nishant Pitti resigns, CFO Rikant will join as replacement

Nishant Peethi, co-founder of Easy Trip Planners Ltd., the parent company of the online travel aggregator. EaseMyTripresigned from the post of executive director on January 1, 2025 due to personal reasons.

On Monday night, Nishant Peethi had revealed his intentions to divest his remaining 14% stake in Easy Trip Planners through block deals.However, only 1.4% of his stake was successfully sold on Tuesday.

Rikant Peethi, who previously served as the company’s CFO and is also Nishant’s brother, has been appointed CEO with immediate effect.

On December 31, a block of shares in Easy Trip was sold for Rs 78.32 crore by co-founder Nishant Peethi, offloading 4.99 crore shares or 1.41 percent stake in the company.EaseMyTrip operates under the Easy Trip Planner brand :

After this deal, Pitti’s ownership in Easy Trip has come down to 12.8 percent.The total promoter holding has also come down to 48.97 percent from 50.38 percent.

In addition, on September 25, Peethi sold 24.65 million shares, representing 14 percent of the total share capital and amounting to Rs 920 crore.

At 11.30 am, Easy Trip shares were trading at R15.75, down 0.76%.

Easy Trip Planners, the operator of EaseMyTrip.com, is a fast growing and profitable online travel portal company in India. They offer a wide range of travel related products and services including Air Tickets, Hotel & Holiday Packages, Rail Tickets and Bus Tickets for complete travel solutions.

In the second quarter of fiscal year 2025, the consolidated net profit of the company decreased by 45.17% and amounted to 25.87 million rubles, compared to 47.18 billion rubles in the same period last year. Despite this, revenue from operations registered a modest 2.1% year-on-year growth to Rs 144.67 crore in the quarter ended September 30, 2024.