Ease My Trip had surged as much as 10 per cent earlier in the day to hit a record high market capitalization of Rs 7,700 crore before giving back some of those gains.
The stock has risen 68 per cent in the past three months on the back of optimism among investors for the travel and tourism sector because of the re-opening of the economy. While the travel and tourism sector suffered heavy losses due to the first and second wave of the pandemic, Ease My Trip was able to weather the storm due to lower costs.
The company has been able to reduce its marketing and sales promotion cost by 51% as compared to the previous quarter. The company’s employee expenses and other expenses have also reduced by 28% and 53%, respectively. The company is very conscious of cost burn…