Yatra Online, Inc. Announces Results for the Three Months Ended September 30, 2020
GURUGRAM, India and NEW YORK, Nov. 5, 2020 /PRNewswire/ -- Yatra Online, Inc. (NASDAQ: YTRA) (OTCQX: 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 September 30, 2020
"The domestic aviation market in India continued on its path of recovery with October 2020 passenger traffic up 33% from September 2020 levels having recovered to 42% of October 2019 levels. This recovery in domestic travel led to a sequential quarterly growth of 60% in our Adjusted Revenue to INR 377.7 million (USD 5.1 million). This growth in revenue further combined with strong cost control enabled us to reduce our adjusted EBITDA loss sequentially from INR 309.4 million (USD 4.1 million) in the June 2020 quarter to INR 125.0 million (USD 1.7 million) in the September 2020 quarter. We continue to believe our current liquidity position and cost restructuring efforts provides us with enough capital to withstand a prolonged slowdown in the travel industry should that occur." Mr. Dhruv Shringi, Co-founder and CEO.
Financial and operating highlights for the three months ended September 30, 2020:
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Revenue of INR 263.3 million (USD 3.6 million).
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Adjusted Revenue of INR 377.7 million (USD 5.1 million), representing a decrease of 75.2% YOY.
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Adjusted Revenue from Air Ticketing of INR 253.2 million (USD 3.4 million), representing a decrease of YOY 75.4%.
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Adjusted Revenue from Hotels and Packages of INR 45.5 million (USD 0.6 million), representing a decrease of 72.5% YOY.
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Total Gross Bookings (Air Ticketing and Hotels and Packages) of INR 1,687.7 million (USD 22.9 million).
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Loss
for the period of INR 300.6 million (USD 4.1 million).
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Adjusted EBITDA
Loss of INR 125.0 million (USD 1.7 million) representing a decline of 115.5% YOY.