Prashant Pitti resigns as MD of EaseMyTrip, Nishant Pitti takes over

Prashant Pitti, co-founder of easemytrip, has stepped down as Managing Director immediately, in a major leadership change for the online travel company.

In his resignation letter, Prashant said he wants to focus on mentoring startups, exploring new business ideas, and working on urban traffic solutions and other public projects. He will stay on as a promoter and long-term shareholder, assuring that no promoter plans to sell their shares.

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After his exit, the board named Nishant Pitti as Chairman and Managing Director and Vikas Bansal as Whole-time Director. They also appointed SMD & Co. as Secretarial Auditor for two years and approved changes to the company’s Memorandum of Association.

This is EaseMyTrip’s second big leadership shake-up. In January, Nishant Pitti resigned as CEO for personal reasons, and Rikant Pitti became the new CEO.

Additionally, promoters Nishant and Rikant Pitti chose to temporarily give up their salaries to support shareholder interests and show confidence in EaseMyTrip’s future.

The changes follow weak financial results, with revenue dropping 25.5% to Rs 114 crore in Q1 FY26 from Rs 153 crore in Q1 FY25. Profit after tax fell 98.7% to Rs 44 lakh from Rs 34 crore in the same period.

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EaseMyTrip’s shares are at Rs 8.35 as of 2:36 PM, down 96% from their listing price of Rs 212. The company’s market value is Rs 3,036 crore (about $344 million), with the stock hitting a record low of Rs 8.29 on August 26.