EaseMyTrip cofounder Prashant Pitti has stepped down from his role as managing director of the travel tech company. His resignation comes months after his brother Nishant Pitti resigned as CEO.
Prashant said he wants to devote more time to supporting young startups, pursuing new business interests, and working on public initiatives such as solving urban traffic challenges.
Following his exit, the EaseMyTrip board has approved the appointment of Nishant Pitti as chairman-cum-MD, effective August 29, subject to shareholder approval. The company also announced that Nishant and fellow cofounder Rikant Pittie have voluntarily decided to temporarily forgo their salaries, although the duration of this arrangement has not been specified.
Despite leadership changes, Prashant Pitti assured stakeholders that he would remain a long-term promoter and shareholder in the company, reiterating that no promoter intends to sell stock. Beyond EaseMyTrip, he also runs lendingtech startup Optimo Loan, which raised $10 Mn in seed funding last year, and has committed resources to addressing Bengaluru’s traffic issues using AI and Google Maps.
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Meanwhile, EaseMyTrip continues to grapple with weak financial performance. Its Q1 FY26 consolidated net profit plunged 99% YoY to INR 44.3 Lakh, while revenue fell 25% to INR 113.8 Cr.
The airline booking vertical was hit hardest, with revenue sliding over 46% to INR 57 Cr. Investor sentiment has soured as promoter stake fell to 47.72% in June 2025 from 64.30% a year earlier, driving shares to a fresh all-time low of INR 8.30 on the BSE.
The stock has declined more than 47% year-to-date, dragging the company’s market cap down to INR 3,029.50 Cr (around $365 Mn), far below its earlier $1 Bn valuation.
