EaseMyTrip, a leading online travel tech aggregator, announced that its Co-Founder and CEO, Nishant Pitti, has stepped down from his position due to personal reasons. His brother and fellow Co-Founder, Rikant Pittie, who currently serves as the company’s Executive Director, has been named the new CEO.
Leadership Change at EaseMyTrip
In a regulatory filing, the company confirmed Rikant Pittie’s appointment as CEO, effective immediately. Rikant, who previously served as the Chief Financial Officer (CFO), is set to take on new responsibilities, including spearheading strategic initiatives, driving innovation, and improving customer experiences. This leadership change aims to strengthen EaseMyTrip’s position as a prominent player in the travel industry.
Nishant Pitti’s Stake Sale
On December 31, Nishant Pitti sold a block of EaseMyTrip shares worth Rs 78.32 crore. This transaction involved 4.99 crore shares, reducing his stake in the company by 1.41%. Following the sale, Nishant’s ownership in the company decreased to 12.8%. The overall promoter holding also dropped from 50.38% to 48.97%.
Earlier, in September 2024, Nishant had sold 24.65 crore shares, representing 14% of the company’s total share capital, for Rs 920 crore. These significant stake sales have reshaped the ownership structure of EaseMyTrip.
EaseMyTrip Market Position
EaseMyTrip operates under the brand Easy Trip Planners and is recognized as one of India’s fastest-growing online travel portals. The platform offers a comprehensive range of travel-related services, including flight bookings, hotel reservations, holiday packages, rail tickets, and bus tickets. Its user-friendly interface and competitive pricing have contributed to its success in the travel tech industry.
In the second quarter of the financial year 2025, EaseMyTrip reported a consolidated net profit of Rs 25.87 crore, marking a 45.17% decline compared to Rs 47.18 crore in the same period the previous year. However, the company’s revenue from operations showed a slight year-on-year increase of 2.1%, reaching Rs 144.67 crore for the quarter ending September 30, 2024.
Future Prospects Under Rikant Pittie
As the new CEO, Rikant Pittie is expected to focus on expanding EaseMyTrip’s offerings and strengthening its market presence. His experience as CFO and Executive Director positions him well to lead the company through its next phase of growth. EaseMyTrip aims to continue innovating and providing seamless travel solutions to its customers.
Despite recent challenges, including a decline in net profit, the company remains optimistic about its future under Rikant’s leadership. EaseMyTrip’s commitment to delivering comprehensive travel services positions it as a trusted brand in the competitive online travel market.
