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

EaseMyTrip co-founder Prashant Pitti has resigned from his role as Managing Director with immediate effect, marking a major leadership reshuffle at the online travel company.

In his resignation letter, Prashant said the decision was driven by his desire to focus on mentoring young startups, pursuing new ventures, and working on urban traffic solutions and other public-good initiatives. He will remain a promoter and long-term shareholder of the company, reiterating that no promoter intends to sell stock.

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

This is the second major reshuffle at the top level for EaseMyTrip. In January, Nishant Pitti stepped down from the CEO role citing personal reasons, and the company appointed Rikant Pitti as its new CEO.

In another move, promoters Nishant and Rikant Pitti voluntarily decided to forgo their salaries temporarily to align with shareholder interests and reinforce confidence in EaseMyTrip’s long-term growth.

The developments come after EaseMyTrip’s disappointing financial results, where its revenue decreased by 25.5% to Rs 114 crore in Q1 FY26 from Rs 153 crore in Q1 FY25. The company’s profit after tax (PAT) also fell 98.7% to Rs 44 lakh in Q1 FY26 as compared to Rs 34 crore in Q1 FY25.

EaseMyTrip’s shares are trading at Rs 8.35 as of 2:36 PM, marking a steep 96% decline from their listing price of Rs 212. The company’s market capitalization stands at Rs 3,036 crore (around $344 million). On August 26, the stock touched an all-time low of Rs 8.29.