GURGAON, India and NEW YORK, June 11, 2018 /PRNewswire/ --
Yatra Online, Inc. (NASDAQ: YTRA, OTCQX: YTROF), India’s leading online travel company, today announced its unaudited financial and operating results for three months and audited financial and operating results for the year ended March 31, 2018.
“Our first full year as a public company has been a landmark year for Yatra. The acquisition of ATB earlier during the year has enabled us to consolidate our position in the large business travel segment in India and become the leading player in the segment and the brand refresh campaigns that we had undertaken during the past year have enabled us to drive significant organic growth as well. The combination of these factors has helped us deliver annual Revenue less service cost growth of 41.3%, thereby beating the top end of our guidance of 35%-40% growth in Revenue less service cost. During the past quarter as well, we continued to deliver strong growth with air ticketing transactions up 38% and standalone hotel room nights booked up 54%. We believe that our unique approach of combining business travel and consumer travel in an emerging growth market like India positions us well to capitalize on the fast-growing travel industry in India.” — Dhruv Shringi, Co-founder and CEO.
Financial and operating highlights for the three months ended March 31, 2018:
- Revenue increased by 36.4% year-over-year (YOY) to INR 3,285.7 million.
- Revenue Less Service Cost(2) increased to INR 2,038.0 million, representing an increase of 40.0% YOY.
- Revenue Less Service Cost(2) from Hotels and Packages increased to INR 501.6 million, an increase of 62.7% YOY.
- Standalone Hotel Room Nights Booked during the quarter was 0.7 million, representing an increase of 54.5% YOY.
- Revenue Less Service Cost(2) from Air Ticketing increased to INR 1,379.1 million, an increase of 35.7% YOY
- Gross Air Passengers Booked were 2.5 million representing YOY growth of 38.2%.
- Total Gross Bookings (Air Ticketing and Hotels and Packages) (4) reached INR 25.97 billion representing YOY growth of 35.6%.
- Profit for the period of INR 380.9 million and Adjusted EBITDA(3) Loss of INR 623.2 million.
Financial and operating highlights for the fiscal year ended March 31, 2018:
- Revenue increased by 30.9% year-over-year (YOY) to INR 12,248.5 million.
- Revenue Less Service Cost(2) increased to INR 7,317.8 million, representing an increase of 41.3% YOY.
- Revenue Less Service Cost(2) from Hotels and Packages increased to INR 1,697.5 million, an increase of 48.0% YOY.
- Standalone Hotel Room Nights Bookedduring the year was 2.1 million, represented an increase of 51.7% YOY.
- Revenue Less Service Cost(2) from Air Ticketing increased to INR 5,012.9 million, an increase of 37.1% YOY.
- Gross Air Passengers Booked were 8.9 million representing YOY growth of 29.2%.
- Total Gross Bookings (Air Ticketing and Hotels and Packages) (4) reached INR 92.54 billion representing YOY growth of 36.1%.
- Profit for the period of INR 4,052 million and Adjusted EBITDA(3) Loss of INR 1,910.3 million.
Three months ended March 31,
YOY
2017 2018 2018 YOY Change
Unaudited
(in thousands except
percentages) INR INR USD %
Financial Summary as per
IFRS
Revenue 2,408,475 3,285,672 50,463 36.4 %
Results from operations (1,191,086 ) (1,182,446 ) (18,161) (0.7) %
Loss for the period (830,181) (380,923) (5,850) -
Financial Summary as per
non-IFRS measures
Revenue Less Service Costs
(2) 1,455,598 2,037,998 31,301 40.0 %
Air Ticketing 1,016,263 1,379,099 21,181 35.7 %
Hotels and Packages 308,313 501,601 7,704 62.7 %
Other 131,023 157,298 2,416 20.1 %
Adjusted EBITDA (3) (558,636) (623,193) (9,571) 11.6 %
Operating Metrics
Gross Bookings (4) 19,148,086 25,973,514 398,917 35.6 %
Air Ticketing 16,499,202 22,202,216 340,995 34.6 %
Hotels and Packages 2,648,884 3,771,298 57,922 42.4 %
Net Revenue Margin% (5)
Air Ticketing 6.2 % 6.2 %
Hotels and Packages 11.6 % 13.3 %
Quantitative details (6)
Air Passengers Booked 1,814 2,507 38.2 %
Stand-alone Hotel Room
Nights Booked 442 682 54.5 %
Packages Passengers
Travelled 33 37 12.2 %
Three months ended March 31,
YOY
2017 2018 2018 YOY Change
Unaudited
(in thousands except
percentages) INR INR USD %
Financial Summary as per
IFRS
Revenue 9,356,812 12,248,513 188,120 30.9 %
Results from operations (1,863,415 ) (3,360,133 ) (51,607) 80.3 %
Exceptional Items (1) (4,242,526) - - (100.0) %
Loss for the
period (5,936,964) (4,051,976) (62,233) (31.8)%
Financial Summary as per
non-IFRS measures
Revenue Less Service Costs
(2) 5,177,327 7,317,756 112,391 41.3 %
Air Ticketing 3,656,976 5,012,931 76,992 37.1 %
Hotels and Packages 1,146,928 1,697,479 26,071 48.0 %
Other 373,422 607,346 9,328 62.6 %
Adjusted EBITDA (3) (1,000,896) (1,910,269) (29,339) 90.9 %
Operating Metrics
Gross Bookings (4) 67,997,907 92,542,478 1,421,325 36.1 %
Air Ticketing 57,562,263 79,156,190 1,215,730 37.5 %
Hotels and Packages 10,435,643 13,386,288 205,595 28.3 %
Net Revenue Margin% (5)
Air Ticketing 6.4 % 6.3 %
Hotels and Packages 11.0 % 12.7 %
Quantitative details (6)
Air Passengers Booked 6,869 8,875 29.2 %
Stand-alone Hotel Room
Nights Booked 1,383 2,098 51.7 %
Packages Passengers
Travelled 143 168 17.9 %
Note:
(1) The listing and related expenses relate to non-recurring listing related expenses, transaction costs and contingent dividend expense.
(2) Revenue Less Service Cost represents revenue after deducting service costs. See “Certain Non-IFRS Measures.”
(3) See section "Certain Non-IFRS Measures."
(4) Gross Bookings represent the total amount paid by our customers for travel services and products booked through us, including taxes, fees and other charges, and are net of cancellation fees and refunds.
(5) Net Revenue Margin is defined as Revenue Less Service Cost as a percentage of Gross Booking.
(6) Quantitative details are considered on a gross basis.
About Yatra Online, Inc and Yatra Online Pvt Ltd
Yatra Online, Inc is the parent company of Yatra Online Pvt Ltd which is based in Gurugram, India and is one of India's leading online travel companies and operates the website Yatra.com. The company provides information, pricing, availability, and booking facility for domestic and international air travel, domestic and international hotel bookings, holiday packages, buses, trains, in city activities, inter-city and point-to-point cabs, homestays and cruises. As a leading platform of accommodation options, Yatra provides real-time bookings for more than 70,000 hotels in India and over 800,000 hotels around the world.
Customers can access Yatra in multiple ways: through a user-friendly website, mobile optimised WAP site and applications, a multi-lingual call centre, a countrywide network of Holiday Lounges and Yatra Travel Express stores.
Launched in August 2006, Yatra was ranked the Most Trusted e-Commerce Travel Brand in India in the Economic Times Brand Equity Survey 2016 for the second successive year, and has won the National Tourism Award for 'Best Domestic Tour Operator (Rest of India)' at the India Tourism Awards held in September 2017 for the third time in a row.
Safe Harbor Statement:
This press release contains certain statements concerning the Company's future growth prospects and forward-looking statements, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the Company's current expectations, assumptions, estimates and projections about the Company and its industry. These forward-looking statements are subject to various risks and uncertainties. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "anticipate," "believe," "estimate," "expect," "intend," "will," "project," "seek," "should" and similar expressions. Such statements include, among other things, management's beliefs as well as our strategic and operational plans. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, the slow-down of economic growth in India and the global economic downturn, general declines or disruptions in the travel industry, volatility in the trading price of our shares, our reliance on our relationships with travel suppliers and strategic alliances, failure to further increase our brand recognition to obtain new business partners and consumers, failure to compete against new and existing competitors, failure to successfully manage current growth and potential future growth, risks associated with any strategic investments or acquisitions, seasonality in the travel industry in India and overseas, failure to successfully develop our corporate travel business, damage to or failure of our infrastructure and technology, loss of services of our key executives, and inflation in India and in other countries. These and other factors are discussed in our reports filed with the U.S. Securities and Exchange Commission. All information provided in this press release is provided as of the date of issuance of this press release, and we do not undertake any obligation to update any forward-looking statement, except as required under applicable law.