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In a bold gesture of financial prudence and leadership accountability, Easy Trip Planners Ltd. promoters Nishant Pitti and Rikant Pittie have announced their decision to temporarily forgo salaries. The move comes at a time when the company is undergoing a strategic transition, marked by executive reshuffles, stake divestments, and a recalibration of its growth roadmap.
The announcement follows Nishant Pitti’s resignation from the CEO position earlier this year, with Rikant Pittie stepping in to lead the company effective January 1, 2025. As the travel-tech firm navigates a challenging macroeconomic environment and shifting investor expectations, the promoters’ decision is seen as a signal of commitment to long-term value creation.
Key Highlights From The Leadership Update
- Nishant Pitti and Rikant Pittie will not draw salaries for an interim period
- The decision aligns with broader cost optimization and governance efforts
- Nishant Pitti recently divested a 1.4 percent stake worth Rs 78 crore
- Rikant Pittie has taken over as CEO, effective January 1, 2025
- Promoter holding has declined to 48.97 percent from 50.38 percent
Strategic Context Behind The Salary Waiver
The temporary salary waiver is part of a larger effort to streamline operations and reinforce investor confidence. Easy Trip Planners reported a 45 percent drop in net profit in Q2 FY25, despite a modest increase in revenue. With rising competition in the online travel space and pressure on margins, the company is focusing on lean governance and capital discipline.
By forgoing salaries, the promoters aim to redirect resources toward operational efficiency, technology upgrades, and customer acquisition. The gesture also reflects a growing trend among Indian startup founders to align personal compensation with company performance and shareholder interests.
Recent Developments In Promoter Activity
1. Nishant Pitti sold 4.99 crore shares in a block deal, reducing his stake to 12.8 percent
2. The transaction was valued at Rs 78.32 crore, executed at an average price of Rs 15.68 per share
3. Earlier in September 2023, Pitti had sold a 14 percent stake for Rs 920 crore
4. The overall promoter holding now stands below 49 percent, indicating increased institutional participation
5. Despite the stake reduction, both promoters remain actively involved in strategic decisions
Operational Performance And Market Sentiment
Easy Trip Planners continues to be one of India’s most profitable online travel aggregators, offering airline tickets, hotel bookings, holiday packages, and rail and bus services. However, the company’s stock has seen volatility following leadership changes and stake sales. Shares fell nearly 7 percent after the latest divestment, closing at Rs 15.85 on the NSE.
Investors are closely watching the company’s next steps, including product innovation, international expansion, and potential partnerships. The leadership transition and salary waiver are expected to stabilize sentiment and reinforce the promoters’ long-term commitment.
Governance And Industry Trends
The decision by Nishant and Rikant to forgo salaries echoes similar moves by founders across India’s tech and startup ecosystem. In recent years, several CEOs and promoters have opted for zero or symbolic compensation during restructuring phases, IPO preparations, or market downturns.
This trend reflects a shift toward performance-linked governance, where leadership accountability is tied to shareholder outcomes. It also signals a maturing corporate culture in India’s digital economy, where transparency and fiscal responsibility are increasingly valued.
Conclusion: A Symbolic Reset For Sustainable Growth
The temporary salary waiver by Easy Trip Planners’ promoters is more than a cost-cutting measure—it is a strategic signal of leadership maturity and financial discipline. As the company recalibrates its growth strategy and adapts to evolving market dynamics, such gestures help build trust among investors, employees, and partners.
With Rikant Pittie now at the helm and Nishant Pitti continuing to guide strategic direction, Easy Trip Planners is poised to navigate its next chapter with renewed focus and resilience.
Sources: Business Today, Economic Times, Times Now News, India.com, NSE Bulk Deal Data
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