CEO exits, odd pivots, and falling profits: What's happening at EaseMyTrip?

EaseMyTrip emerged as a market darling soon after its March 2021 stock market debut. The online travel company impressed investors with stellar financials—operating margins of over 30 per cent, return on capital employed above 50 per cent (in FY21-23), and a 4x profit growth between FY20 and FY23. The market rewarded this performance handsomely, and the stock soared over 5x from a bonus-adjusted Rs 6 to Rs 34 by November 2022.