Latest Quarterly report

Yatra Online, Inc. Announces Results for the Three Months Ended June 30, 2021

Gurugram, India and New York, New York--(Newsfile Corp. - August 19, 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 ended June 30, 2021.

"India was particularly severely hit by the second wave of COVID-19 experiencing daily case counts of over 400,000 during the quarter. The impact was widespread and touched most of us personally as well with family and friends being impacted. Despite such challenging conditions, we continued to execute strongly and though our Adjusted Revenue dropped by 49.6% sequentially to INR 488.7 million, our stringent cost control measures enabled up to deliver positive Adjusted EBITDA of INR 38.8 million.

Fortunately, India appears to have managed to bring the second wave under control through a combination of a tight lockdowns and mass vaccinations. Over 500 million people in India have now received at least one dose of the COVID-19 vaccine and India is currently administering approximately 5 million doses a day. We are beginning to see demand also re-emerge strongly on account of the low case counts and vaccination drive in India. In the month of July 2021, industry air passenger numbers grew 61% as compared to June 2021 and we are beginning to see signs of recovery in corporate travel as well, as more and more employees get fully vaccinated. During the month of July 2021, gross booking for corporates grew 268% as compared to June 2021 and August 2021 is currently trending at 316% growth as compared to June 2021.

We are optimistic about the growth and recovery based on the trends that we are witnessing in the months of July and August and believe that our healthy balance sheet puts us in a strong position to capitalize as the recovery continues to gain momentum," - Dhruv Shringi, Co-founder and CEO.

Financial and operating highlights for the three months ended June 30, 2021:

  • Revenue of INR 306.9 million (USD 4.1 million).
  • Adjusted Revenue (1) of INR 488.7 million (USD 6.6 million), representing a decrease of 49.6% quarter-over-quarter basis ("QoQ") versus an increase of 106.9% on year over year basis ("YoY").
  • Adjusted Revenue (1) from Air Ticketing of INR 308.5 million (USD 4.2 million), representing a decrease of 51.5% QoQ versus an increase of 81.3% YoY.
  • Adjusted Revenue (1) from Hotels and Packages of INR 45.1 million (USD 0.6 million), representing a decrease of 75.4% QoQ verses an increase of 279.1% YoY.
  • Total Gross Bookings (Air Ticketing and Hotels and Packages) (3) of INR 2,119.9 million (USD 28.5 million), representing a decrease of INR 5,346.7 million (USD 71.9 million) QoQ versus an increase of INR 2,324.9 million (USD 31.3 million) YoY.
  • Loss for the period was INR 80.4 million (USD 1.1 million) versus a loss of INR 597.9 million (USD 8.0 million) for the three months ended March 31, 2021, reflecting a decrease of loss of INR 517.5 million (USD 7.0 million) QoQ.
  • Adjusted EBITDA (2) Profit was INR 38.8 million (USD 0.5 million) reflecting a decline of INR 53.3 million (USD 0.7 million) QoQ versus a profit of INR 92.1 million (USD 1.2 million) for the three months ended March 31, 2021.

Financial Table