Easy Trip Planners, the parent company of online travel technology platform EasyMyTrip has approved the allotment of a 3:1 bonus issue.
The stock on Monday went ex-bonus of a 3:1 issue and ex-stock split of 2:1. It had also announced a 1:1 bonus issue in February this year.
Shares are now trading lower after gaining 20 percent each on Monday and Tuesday.
During the September quarter, the company recorded its highest-ever gross booking revenue of Rs 2,000 crore.
Also Read: EaseMyTrip concludes its ‘Travel Utsav’ with sales of Rs 555 crore
Speaking to CNBC-TV18, Easy Trip Planners’ co-founder, Prashant Pitti, said on Tuesday reasoned that the competitive intensity is decreasing and added that the second quarter is also generally the weakest because of the monsoon disruptions.
The company grew over 25 percent in the second quarter beating competitors, who majorly saw flat growth in this period.
Convenience fees are seen as another 'hidden' cost by some travellers. Most travel operators (OTAs) charge anywhere between Rs 300 and Rs 600 per passenger for this but Easemytrip is trying to distinguish itself by waving this off via a discount coupon.
Shares of Easy Trip Planners are currently trading 3.3 percent lower at Rs 66.10.