BEIJING, Aug. 6, 2009 (Xinhua News Agency) -- Ctrip.com International, Ltd. (NASDAQ:CTRP) (CTRP.NASDAQ), a Chinese online travel agency, realized a net profit of 159 million yuan in the second quarter of this year, representing a growth of 23 percent year on year.
In the quarter ended June 30, the company recorded total revenue of 508 million yuan, up 26 percent year on year. This included 227 billion yuan from hotel reservation, 222 million yuan from air ticketing and 36 million from packaged tours.
Its net revenue went up 27 percent year on year to 476 million yuan in this quarter. Ctrip's second quarter results consolidated the financial statements of ezTravel, a Taiwan-based online travel service provider, in which Ctrip holds about a 20 percent stake.
For the third quarter of 2009, Ctrip estimates its net revenue to grow 25 percent year on year.
Hu Yuanyuan, an analyst with market researcher iResearch, said that Ctrip's handsome performance in the second quarter could be attributed to a warming macroeconomic environment. Also, people were encouraged to organize trips during the three three-day holidays during the second quarter. Also, the China Import and Export Fair provided fuel for the business trip market.
Meanwhile, Ctrip expanded its sales channel by cooperating with the government, taking part in the distribution of travel consumption vouchers in such cities as Beijing, Hangzhou and Jiangsu.
