Results · Commerce & Consumer Brands

Mutual funds exit EaseMyTrip as profits collapse

By Startup Enthusiast · 20 April 2026

What they do

Mutual funds cut holdings from 9 funds to 1 fund, dropping from 64.63 lakh shares to 1,152 shares by Q4 FY26

Net profit fell to ₹44.3 lakh in Q1 FY26 from ₹13.9 crore in Q4 FY25

Air ticketing revenue declined 46% year-on-year in Q1 FY26 amid West Asian conflict

Domestic mutual funds exited EaseMyTrip holdings in Q4 FY26, reducing stakes from 0.18% to 0.00003%.
The stock price fell to ₹7.85, a sharp decline from its ₹212 listing price in 2021.
Net profit crashed to ₹44.3 lakh in Q1 FY26 from ₹13.9 crore in the previous quarter.
FPI ownership increased slightly to 1.41% of shares held by 14 entities in Q4 FY26.
Founder Nishant Pitti pledged ₹55 crore worth of shares recently for personal use.
Nishant Pitti stepped down as CEO in January 2025 and took a non-executive role.
Rikant Pitti assumed operational control as CEO after Prashant Pitti stepped down as MD in August 2025.

West Asian conflicts are impacting travel tech growth according to JM Financial analyst Sachin Dixit.
Competitors like Yatra and ixigo saw mutual fund holdings increase during the same period.
EaseMyTrip faces headwinds from declining air ticketing revenue and promoter share pledging.

EaseMyTrip operates as an online travel booking platform for flights and hotels.
Air ticketing revenue was ₹57 crore in Q1 FY26, down 46% year-on-year.
Subsequent quarters showed air ticketing revenues of ₹72.1 crore and ₹97.65 crore, both down 22% YoY.
The company reported a ₹36 crore loss in Q2 FY26 after a ₹51 crore one-time loss.
Profit rebounded to ₹3.4 crore in Q3 FY26 before falling sharply again in Q1 FY26.
Promoters hold significant stakes with Rikant at 25.22%, Nishant at 12.38%, and Prashant at 10.03%.
Prashant Pitti is involved in other ventures including Optimo Capital NBFC and MillD Store.
Rikant Pitti launched an AI venture studio in 2025 outside of EaseMyTrip operations.

Motilal Oswal Nifty Microcap 250 index fund (seller) — Exited EaseMyTrip holdings in March.