EaseMyTrip has announced a major leadership change with co-founder Prashant Pitti stepping down as Managing Director with immediate effect.
In his resignation letter, Prashant cited his desire to mentor young startups, pursue new ventures, and work on public-good initiatives such as urban traffic solutions. He clarified that he will continue as a promoter and long-term shareholder, stressing that no promoter intends to sell stock.
Following his exit, the company’s board appointed:
Nishant Pitti → Chairman & Managing Director
Vikas Bansal → Whole-time Director
Additionally, the board approved the appointment of SMD & Co. as Secretarial Auditor for two years and made amendments to the company’s Memorandum of Association.
This marks the second major reshuffle in 2025. Earlier in January, Nishant Pitti stepped down as CEO citing personal reasons, with Rikant Pitti taking over as the new CEO.
In another move to align with shareholder interests, Nishant and Rikant Pitti voluntarily forwent their salaries temporarily, reinforcing confidence in EaseMyTrip’s long-term growth strategy.
However, the leadership changes come amid challenging financial performance. In Q1 FY26, EaseMyTrip’s revenue fell 25.5% YoY to Rs 114 crore, while profit after tax slumped 98.7% to Rs 44 lakh from Rs 34 crore a year ago.
EaseMyTrip’s shares are currently trading at Rs 8.35, reflecting a 96% decline from its listing price of Rs 212. The company’s market capitalization stands at Rs 3,036 crore (~$344M), with the stock recently hitting an all-time low of Rs 8.29 on August 26.
By: Arushi Agarwal
