Prashant Pitti Steps Down as EaseMyTrip MD

EaseMyTrip co-founder Prashant Pitti has resigned as Managing Director with immediate effect, triggering another major leadership change at the online travel firm.

In his resignation note, Prashant cited his desire to mentor startups, explore new ventures, and work on urban traffic and public-good initiatives. He clarified that he remains a promoter and long-term shareholder, with no plans for stake sale.

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

This marks EaseMyTrip’s second major leadership reshuffle in 2025. In January, Nishant Pitti stepped down as CEO, with Rikant Pitti taking over the role. To reinforce investor confidence, Nishant and Rikant also voluntarily decided to forgo their salaries temporarily.

The changes come against the backdrop of weak financial results. For Q1 FY26, revenue fell 25.5% to ₹114 crore from ₹153 crore a year earlier, while profit after tax plunged 98.7% to ₹44 lakh compared to ₹34 crore in Q1 FY25.

EaseMyTrip’s stock continues to struggle, trading at ₹8.35 as of 2:36 PM, down nearly 96% from its IPO price of ₹212. On August 26, shares hit an all-time low of ₹8.29, leaving the company with a market capitalization of ₹3,036 crore (~$344 million).