Nishant Pitti, CEO of Straightforward Journey Planners, resigns and Rikant, CFO, will exchange him

Nishant Pitti, co-promoter of Straightforward Journey Planners Ltd., the guardian firm of the net journey aggregator EaseMyTripresigned as CEO efficient January 1, 2025, for private causes.

On Monday night, Nishant Pitti had revealed plans to divest his remaining 14% stake in Straightforward Journey Planners by block offers. Nonetheless, just one.4% of its stake was efficiently bought on Tuesday.

Rikant Pittie, who was beforehand the corporate’s CFO and can be Nishant’s brother, has been appointed CEO with speedy impact.

On December 31, a block of Straightforward Journey shares price Rs 78.32 crore was bought by co-founder Nishant Pitti, ensuing within the offloading of 4.99 crore shares or a stake of 1.41 p.c in society. EaseMyTrip operates below the Straightforward Journey Planner model.

Following this transaction, Pitti’s stake in Straightforward Journey fell to 12.8 p.c. The general promoter stake additionally decreased from 50.38 p.c to 48.97 p.c.

Additional, on September 25, Pitti bought 24.65 crore shares, which constituted 14% of the overall share capital and amounted to Rs 920 crore.

At 11:30 am, Straightforward Journey shares have been buying and selling at Rs 15.75, down 0.76 per cent.

Straightforward Journey Planners, the operator of EaseMyTrip.com, is a worthwhile and quickly rising firm within the on-line journey portal trade in India. They provide a variety of travel-related services and products, together with flight tickets, lodge and trip packages, prepare tickets and bus tickets, for full journey options.

Within the second quarter of FY2025, the corporate’s consolidated internet revenue declined by 45.17 per cent to Rs 25.87 crore as towards Rs 47.18 crore in the identical interval of the earlier yr. Regardless of this, working income noticed a modest improve of two.1% year-on-year, reaching Rs 144.67 crore within the quarter ending September 30, 2024.