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Yatra Online, Inc. Announces Results for the Three Months and Year Ended March 31, 2021

Gurugram, India and New York, New York--(Newsfile Corp. - June 8, 2021) - Yatra Online, Inc. (NASDAQ: YTRA) (OTC Pink: YTROF), 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, 2021.

"I am pleased to report that Yatra had a robust March quarter driven by the continued recovery in domestic flight travel, which averaged 60% of pre-COVID levels during the quarter. Adjusted Revenue of USD 13.3 million was up 60% sequentially and a combination of revenue growth and tight cost management helped us achieve positive Adjusted EBITDA of USD 1.3 million, well ahead of plan and we ended the quarter with a solid balance sheet with a cash balance of approximately USD 31 million.

As we are all well aware, subsequent to the closing of our March quarter, India suffered a severe setback as a second COVID wave hit India with case counts peaking in the 400K /day range and many regions once again began to curb travel. Thankfully, since peaking on May 6, case counts have sharply declined and today are at about a third of their peak and India has managed to administer over 230 million vaccine doses.

While travel demand was subdued due to high case counts and partial lockdowns across the country, we have begun to see early signs of recovery in the past few days. We believe travel should recover strongly as evidenced by the strong recovery post the first wave. As demonstrated by our solid March quarter results, we believe that given our liquidity, strong brand and large customer base, we are well poised to capitalize on a recovery in the travel industry," Dhruv Shringi, Co-Founder and CEO.

Financial and operating highlights for the three months ended March 31, 2021:

  • Revenue of INR 506.9 million (USD 6.9 million).
  • Adjusted Revenue (1) improved to INR 970.1 million (USD 13.3 million), representing an increase of 59.9% quarter over quarter ("QoQ") versus a decrease of 16.9% year over year ("YoY").
  • Adjusted Revenue (1) from Air Ticketing improved to INR 635.5 million (USD 8.7 million), representing an increase of 48.3% QoQ versus a decrease of YoY (16.3)% .
  • Adjusted Revenue (1) from Hotels and Packages improved to INR 183.4 million (USD 2.5 million), representing an increase of 67.3% QoQ and an increase of 8.3% YoY.
  • Total Gross Bookings (Air Ticketing and Hotels and Packages) (3) reached INR 7,466.6 million (USD 102.1 million) as compared to INR 16,654.3million (USD 227.7 million) in the year ago quarter.
  • Loss for the period was INR 597.9 million (USD 8.2 million) versus a loss of INR 216.9 million (USD 3 million) in F3Q21.
  • Adjusted EBITDA (2) Profit/(Loss) was INR 92.1 million (USD 1.3 million) versus a loss of INR 36.4 million (USD 0.5 million) in F3Q21.

Financial and operating highlights for the year ended March 31, 2021:

  • Revenue of INR 1,271.3 million (USD 17.4 million).
  • Adjusted Revenue (1) decreased to INR 2,190.6 million (USD 30 million), representing a decrease of 63.4% YoY.
  • Adjusted Revenue (1) from Air Ticketing decreased to INR 1,487.5 million (USD 20.3 million), representing a decrease of 62.4% YoY.
  • Adjusted Revenue (1) from Hotels and Packages decreased to INR 350.5 million (USD 4.8 million), representing a decrease of 55.3% YoY.
  • Total Gross Bookings (Air Ticketing and Hotels and Packages) (3) of INR 14,707.4 million (USD 201.1 million) representing YoY decline of 82.8%.
  • Loss for the year was INR 1,194.9 million (USD 16.3 million) versus a loss of INR 840.2 million (USD 11.5 million) YoY.
  • Adjusted EBITDA (2) Loss was INR 378.7 million (USD 5.2 million) reflecting an increase of INR 257.1 million (USD 3.5 million).

Financial Table