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Business Standard
26 minutes ago
- Business Standard
EaseMyTrip sees 81% surge in hotel, holiday bookings in June quarter
Online travel platform EaseMyTrip reported an over 81 per cent rise in hotels and holiday packages bookings in the June quarter, as travel picked up in the world's fastest-growing economy. Hotels and holiday package bookings grew by 81.2 per cent year-on-year, rising from 1.8 lakhs to 3.3 lakhs, the firm said in a statement. The trains, buses, and others segment recorded a 41.4 per cent year-on-year growth in Q1 FY26, with bookings increasing from 3.1 lakh to 4.3 lakh. Dubai operations saw gross booking revenue surge 151 per cent to Rs 318.1 crore. It had a gross booking revenue of Rs 2,065.8 crore in the quarter and EBITDA of Rs 6.9 crore on a revenue of Rs 113.8 crore. Flights make up 79.2 per cent of gross booking revenue, and hotels and holiday packages account for 18.8 per cent. The remaining 2.1 per cent comes from train, buses and other bookings. When it comes to revenue from operations, flights contribute 50 per cent, while hotels and holiday packages contribute 28.6 per cent. The remaining 21.4 per cent comes from trains, buses and other bookings. Air ticketing remains steady at 24,230 flight segments booked daily. Non-air segments, such as hotels, packages, trains, buses and others delivered strong double-digit growth. "Hotels and Packages grew 81.2 per cent YoY and Dubai operations surged 151 per cent, both offering better margins than flights. We've also acquired premium hospitality and commercial assets to build a strong physical base, and launched EMT 2.0 to diversify into new verticals," it said. Promoters have voluntarily chosen to draw zero salary until sustained profitability returns, showing full alignment with shareholders. These steps are designed to move EaseMyTrip beyond a flight-led model into an integrated travel, hospitality, and lifestyle ecosystem. While this requires short-term capex, it is aimed at creating sustainable profitability and shareholder value over the long term. Nishant Pitti, founder and chairman, EaseMyTrip, said, "For Q1 FY26, EaseMyTrip began the year with a steady performance, recording a Gross Booking Revenue of Rs 2,065.8 crore, driven by strong momentum in the Hotels & Packages segment, which grew 81.2 per cent year-on-year from 1.8 lakh to 3.3 lakh room nights, averaging 3,637 room nights booked daily. "Additionally, an average of 24,230 flight segments was booked daily. Our Dubai operations also posted an outstanding performance, with Gross Booking Revenue rising 151 per cent from Rs 126.7 crore to Rs 318.1 crore." "Despite the global headwinds in the travel industry, these performances reflect the strength of our diversified portfolio, our destination-focused strategies, and our capacity to stay ahead of changing traveller needs in both leisure and business segments. "From a homegrown startup to one of India's leading travel-tech platforms, we are proud to represent our nation on the global stage. We continue to focus on growing our domestic and international presence, strengthening alliances, and building enduring value for our customers and stakeholders," he said. Founded in 2008 by Pitti brothers as a B2B2C platform for flight bookings without external funding, EaseMyTrip entered direct-to-consumer (B2C) through website and mobile app in 2011 and corporate travel in 2013. It expanded a nationwide franchise and travel agent network and started operations in the UAE, UK, Thailand and US markets to tap outbound travel in those markets. It has also entered the electric bus segment with Easy Green Mobility. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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Business Standard
26 minutes ago
- Business Standard
Next round of India-Asean trade pact review talks in October in Jakarta
The next round of review talks for the India-Asean free trade agreement in goods will be held in October this year in Jakarta, an official statement said on Friday. The tenth round of the negotiations concluded here this month (August 10-14). The Commerce Ministry said the Joint Committee focused on advancing the ongoing review of AITIGA (Asean India trade in goods agreement) to enhance its effectiveness, accessibility, and trade facilitation capabilities. ASEAN remains a key trade partner for India, accounting for around 11 per cent of India's global trade. The bilateral trade reached $123 billion in 2024-25, reflecting the strong economic ties between the two sides and creating opportunities for enhanced cooperation in the years ahead, it said. "The next AITIGA Joint Committee meeting is scheduled for 6-7 October 2025 at the ASEAN Secretariat in Jakarta, Indonesia, and will be hosted by Malaysia," it added. In a separate statement, the ministry said the fourth meeting of the India-Singapore Joint Working Group on Trade andInvestment (JWGTI) was held here on August 14. Discussions focused on identifying priority sectors for greater alignment, improving logistics and supply chains, streamlining regulatory frameworks, and exploring ways to facilitate cross-border trade. The meeting reviewed ongoing collaboration in areas like the semiconductor sector and digitalisation of trade, and explored potential partnerships in skills development and capacity building. Singapore is India's largest trading partner within ASEAN, with total bilateral trade of $34.26 billion during 2024-25. It is also India's second-largest source of foreign direct investment (FDI), with equity inflows of $163.85 billion (Rs 11,24,509.65 crore) between April 2000 and July 2024, accounting for about 24 per cent of India's total inflows. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Indian Express
26 minutes ago
- Indian Express
Top 10 non-IIM Business Schools in India: Check rank, placements and more
MBA continues to be one of the most sought-after postgraduate degrees in India, especially among students who have completed their bachelor's in engineering, technology, commerce, arts, or even pure sciences. While engineering graduates have traditionally dominated MBA classrooms, the degree is now increasingly chosen by individuals from varied academic backgrounds who want to enter leadership, management, and professional roles across various industries. CAT 2025 Notification: IIM-Kozhikode to start registration from Aug 1; exam on November 30 When it comes to business education in India, the Indian Institutes of Management (IIMs) remain the most coveted destinations. However, securing a seat at an IIM requires not only out-of-the-ordinary academic performance but also clearing the highly competitive Common Admission Test (CAT). Fortunately, India is home to several other premier business schools, both autonomous institutes and management departments of reputed universities, that consistently rank among the best in the country and offer excellent placement opportunities. Here's a list of some of the top non-IIM business schools in India. Established in 1993, the Department of Management Studies at IIT Delhi is located in the capital city, offering MBA programs with strong industry linkages. The MBA 2024 batch comprised 44 students and achieved a 100% placement rate. The highest package stood at Rs 40.5 LPA, while the average was Rs 23.4 LPA. Strategy & Consulting emerged as the top recruiting sector with 24.4% of offers, followed by IT & Analytics, Sales & Marketing, Finance & Economics, and Operations. Top recruiters included Accenture, Bain & Company, and ICICI Bank. The batch was 25% female and 75% male, with 78% having prior work experience. Founded in 1949, XLRI is one of India's oldest and most prestigious private management schools. The 2025 PGDM-BM and PGDM-HRM batch had 503 students and recorded a perfect 100% placement rate. The highest domestic package was Rs 75 LPA, while the international highest touched Rs 110 LPA. The average package stood at Rs 31.08 LPA, with a median of Rs 29 LPA. An impressive 34% of the cohort received Pre-Placement Offers (PPOs). Leading recruiters included Accenture, Bain & Co, BCG, Deloitte, HUL, ITC, Reliance, and Tata Steel. Established in 1995, the Shailesh J. Mehta School of Management at IIT Bombay is a popular choice for candidates seeking a technology-driven business education. The MBA 2024 batch achieved 100% placements, with the highest package at Rs 72 LPA, an average of Rs 28.01 LPA, and a median of Rs 26.73 LPA. The PPO conversion rate stood at an impressive 47%. IT/E-commerce (23%), BFSI & Conglomerate (19%), and FMCG/FMCD (19%) were top sectors, with recruiters like JP Morgan Chase, ICICI Bank, Deloitte, PwC, and Tata Communications. Established in 1973, MDI is one of India's popular private business schools. The 2025 placement season saw 311 PGDM students, 125 in PGDM-HRM, 114 in PGDM-IB, and 28 in PGDM-BAN placed with a 100% success rate. The highest package reached Rs 53.6 LPA, with an average of Rs 25.6 LPA for the PGDM program. McKinsey, Accenture Strategy, and Deloitte were among the 147 recruiters. Consulting and HRM roles attracted the highest packages. Part of Symbiosis International (Deemed University) and established in 1978, SIBM Pune is known for its strong corporate connections. The latest placement season saw over 99 recruiters participate. The highest package touched Rs 49 LPA, while the average stood at Rs 28.16 LPA, and the median at Rs 25 LPA. Domain-wise, Marketing recorded an average of Rs 30.55 LPA, HR Rs 28.74 LPA, and Finance Rs 27.14 LPA. Notable recruiters included Accenture, Asian Paints, Godrej, Mastercard, Reliance, and Tata Capital. Founded in 1963, IIFT is a institution for trade and international business studies. For the 2024 batch across Delhi and Kolkata campuses, the highest domestic package was Rs 75.6 LPA, while the highest international was Rs 85.4 LPA. The average package stood at Rs 27.3 LPA, with a median of Rs 25 LPA. Professional Services (23%), BFSI (21%), and Sales & Marketing (22%) were top recruiting sectors. Companies like ITC, Goldman Sachs, and Amazon featured among the 120 recruiters. The Department of Management Studies at IIT Madras, established in 2004, offers both MBA and Tech MBA programs. In the 2024 placements, the MBA program recorded a highest package of Rs 29.65 LPA and an average of Rs 16.93 LPA, while the Tech MBA saw an average of Rs 27.37 LPA. A total of 32 companies participated, ensuring 100% placement for both programs. One of the oldest IITs, IIT Roorkee's Department of Management Studies was set up in 1998. The MBA 2024 batch had 79 students, all placed successfully. The highest package was Rs 26 LPA, the average was Rs 18.3 LPA, and the median Rs 18.5 LPA. Operations and IT & Analytics were leading domains, with over 70 recruiters participating. Vinod Gupta School of Management, established in 1993, offers MBA programs with a strong emphasis on technology and management integration. The 2024 batch of 118 students achieved 100% placement, with the highest package at Rs 37.07 LPA, an average of Rs 20.83 LPA, and a median of Rs 20.65 LPA. Strategy & Consulting (29%), BFSI (22%), and Supply Chain & Operations (20%) were the top domains. Recruiters included Accenture, Deloitte, Godrej, and Infosys. Established in 1981, SPJIMR is a private B-school known for its industry-aligned curriculum. The 2025 batch of 336 students achieved 100% placements. The highest international package reached Rs 89 LPA, while the highest domestic package stood at Rs 81 LPA. The average package was Rs 32 LPA, with a median of Rs 30.5 LPA. Consulting dominated the placement trends, with 35% of the batch placed in this domain. Top recruiters included BCG, Accenture Strategy, and Deloitte.
