Financial summary

GURUGRAM, India & NEW YORK--(BUSINESS WIRE)-- Yatra Online, Inc. (NASDAQ: YTRA) (the “Company”), India’s leading corporate travel services provider and one of India’s leading online travel companies, today announced its unaudited financial and operating results for the three months and year ended March 31, 2025.

“We ended fiscal year 2025 on a strong note delivering revenue for the three months ended March 31, 2025 of INR 2,192.5 million (USD 25.7 million) up 114.0% YoY, driven by the growth in our MICE business and the inorganic contribution from the Globe Travels acquisition. Our Revenue Less Service Cost ('RLSC') for the three months ended March 31, 2025 of INR 1,094.0 million (USD 12.8 million) was up 33.9% YoY. Adjusted EBITDA of INR 90.0 million (USD 1.1 million).

“For fiscal year 2025, we reported revenue of INR 7,957.3 million (USD 93.1 million) registering growth of 89.9% YoY. Our fiscal year RLSC of INR 3,915.9 million (USD 45.8 million) was up 17.8% YoY. Our full-year revenue reflects the momentum we’ve built across our Corporate Travel and MICE businesses, which have been pivotal in navigating a competitive landscape. Notably, our profitability metrics underscore our disciplined execution: Adjusted EBITDA for the full year grew 28.3% YoY, reflecting our ability to optimize costs and capitalize on high-growth opportunities.

“Our MICE business has emerged as a standout performer, with significant revenue growth and margin expansion in the fourth quarter, building on the strong foundation laid throughout fiscal year 2025. By leveraging our expanded capabilities and Globe Travels’ expertise, we’ve captured a larger share of this high-margin segment, positioning Yatra as a dominant player in India’s MICE market.

“While our B2C air ticketing segment faced top-line and margin pressures due to strategic discount adjustments amid intense supplier competition, our diversified revenue mix—particularly the strength in Hotels & Packages and MICE—has effectively mitigated these challenges.

“Our Corporate Travel segment continues to be a cornerstone of our success. In the fourth quarter, we onboarded 35 new corporate clients, further expanding our annual billing potential by INR 1,430.0 million (USD 16.7 million) and reinforcing our position as India’s leading corporate travel provider. The integration of Globe Travels, acquired in September 2024, has exceeded expectations, delivering synergies in supplier consolidation, technology adoption, and cross-selling opportunities. These efforts have enhanced our ability to offer seamless, tech-driven solutions to our growing client base.

“As part of our ongoing efforts around restructuring, the Company has made strong progress with a viable structure in place. While some hurdles remain, we are actively navigating processes across jurisdictions. The timeline is uncertain due to complexity, but we’re fully committed. This transition is key for Yatra and our shareholders, aligning us with the market and unlocking value. We’ll share updates as we move forward.

“As we look ahead to fiscal 2026, we are encouraged by the momentum across our business. Strong corporate client acquisition, continued growth in our MICE segment, and ongoing investment in our proprietary technology platform including AI-powered personalization and booking tools position us well for the next phase of growth.

“We are introducing preliminary guidance for FY26, projecting approximately 20% growth in Revenue Less Service Costs (RLSC) and 30% year-over-year growth in Adjusted EBITDA, driven by three pillars: expansion in corporate travel, continued scaling of MICE and Hotels and Packages, and full cost synergies from Globe.

“We remain focused on advancing our strategic priorities: scaling high-margin verticals, deepening our technology edge, and creating sustainable long-term value for our stakeholders.

“I would like to thank our team for their relentless dedication, our partners for their trust, and our shareholders for their continued support.” – Dhruv Shringi, Co-founder and CEO.

Financial and operating highlights for the three months ended March 31, 2025:

• Revenue of INR 2,192.5 million (USD 25.7 million), representing an increase of 114.0% year-over-year basis (“YoY”).
• Adjusted Margin⁽¹⁾ from Air Ticketing of INR 925.8 million (USD 10.8 million), representing a decrease of 23.5% YoY.
• Adjusted Margin⁽¹⁾ from Hotels and Packages of INR 357.8 million (USD 4.2 million), representing an increase of 23.3% YoY.
• Total Gross Bookings (Air Ticketing, Hotels and Packages and Other Services)⁽³⁾ of INR 18,713.9 million (USD 219.1 million), representing a decrease of 6.3% YoY.
• Loss for the period was INR 14.8 million (USD 0.2 million) versus a loss of INR 30.2 million (USD 0.4 million) for the three months ended March 31, 2024, reflecting a decrease of INR 15.4 million (USD 0.2 million) YoY.
• Result from operations were a loss of INR 32.9 million (USD 0.4 million) versus a loss of INR 32.7 million (USD 0.4 million) for the three months ended March 31, 2024, reflecting a increase of INR 0.2 million (USD 0.1 million) YoY.
• Adjusted EBITDA⁽²⁾ was INR 90.0 million (USD 1.1 million) reflecting an increase of 23.0% YoY.

Financial and operating highlights for the year ended March 31, 2025:

• Revenue of INR 7,957.3 million (USD 93.1 million), representing an increase of 89.9% year-over-year basis (“YoY”).
• Adjusted Margin⁽¹⁾ from Air Ticketing of INR 3,588.2 million (USD 42.0 million), representing a decrease of 20.3% YoY.
• Adjusted Margin⁽¹⁾ from Hotels and Packages of INR 1,473.1 million (USD 17.2 million), representing an increase of 29.2% YoY.
• Total Gross Bookings (Air Ticketing, Hotels and Packages and Other Services)⁽³⁾ of INR 70,910.2 million (USD 830.0 million), representing a decrease of 6.6% YoY.
• Profit for the period was INR 23.9 million (USD 0.3 million) versus a loss of INR 366.5 million (USD 4.3 million) for the year ended March 31, 2024, reflecting an increase in profit by INR 390.4 million (USD 4.6 million) YoY.
• Result from operations were a loss of INR 89.9 million (USD 1.1 million) versus a loss of INR 158.8 million (USD 1.9 million) for the year ended March 31, 2024, reflecting an improvement in loss by INR 68.9 million (USD 0.8 million) YoY.
• Adjusted EBITDA⁽²⁾ Profit was INR 343.8 million (USD 4.0 million) reflecting an increase of 28.3% YoY.