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 ended December 31, 2024.
“We are pleased to report a strong quarter, delivering revenue growth and continued momentum across key segments. Our revenue for the quarter reached INR 2,350.7 million (USD 27.5 million), marking year-over-year increase of 111.4%.
“Adjusted Air Ticketing Margins saw a 23.0% decline, primarily attributable to reduced volumes in the B2C segment as we strategically adjusted discounts to address supplier-induced intensified price competition. Our corporate travel business continued to be a key growth driver. Notably, Adjusted Hotels & Packages margin saw a strong 65.8% year-over-year increase, primarily fueled by the expansion of our MICE (Meetings, Incentives, Conferences, and Exhibitions) business.
“Our profit was INR 39.8 million (USD 0.5 million) for the three months ended December 31, 2024 versus a loss of INR 39.5 million (USD 0.5 million) for the three months ended December 31, 2023. Additionally, Adjusted EBITDA surged 173.0% year-over-year to INR 121.5 million (USD 1.4 million), reflecting our disciplined focus on profitable growth and cost optimization.
“Our ongoing emphasis on operational efficiency has yielded tangible results, including improved cost rationalization, supply-side synergies, and enhanced margin sustainability. The strategic pivot toward higher-margin segments like Hotels & Packages and MICE has effectively mitigated the impact of B2C air margin pressures, reinforcing our balanced revenue mix. Furthermore, our success in onboarding 50 new corporate clients—a quarterly record—has added an annual billing potential of INR 2,804 million (USD 32.2 million), strengthening our leadership in the corporate travel domain.
“Following our successful acquisition of Globe All India Services Limited (GAISL) on September 11, 2024, for INR 1,280.0 million (USD 15.3 million) in cash, integration efforts are progressing ahead of schedule. We are already seeing early synergies, particularly in supplier consolidation, operational streamlining, and technology adoption. By leveraging Yatra’s tech platform within GAISL’s customer base, we expect to unlock further efficiencies, drive incremental revenue, and enhance our long-term competitive positioning.
“The Company continues to work with its counsels in the relevant jurisdictions to simplify its legal and corporate structure which is expected to streamline administrative overheads and facilitate growth for the Company. These initiatives, combined with disciplined execution and a scalable cost structure, are expected to support sustained margin expansion and operational excellence.
“Looking ahead, we remain excited about the opportunities before us. With record corporate client acquisitions, continued expansion in MICE, and disciplined execution of our strategic priorities, we are confident in our ability to reinforce our market leadership and drive sustainable value for all stakeholders.” - Dhruv Shringi, Co-founder and CEO.
Financial and operating highlights
for the three months ended December 31, 2024
:
- Revenue of INR 2,350.7 million (USD 27.5 million), representing an increase of 111.4% year-over-year basis (“YoY”).
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Adjusted Margin(1)
from Air Ticketing
of INR 857.6 million (USD 10.0 million), representing a decrease of 23.0% YoY.
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Adjusted Margin(1)
from Hotels and Packages
of INR 438.0 million (USD 5.1 million), representing an increase of 65.8% YoY.
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Total Gross Bookings (Air Ticketing, Hotels and Packages and Other Services)(3)
of INR 17,997.1 million (USD 210.4 million), representing a decrease of 3.4% YoY.
- Profit for the period was INR 39.8 million (USD 0.5 million) versus a loss of INR 39.5 million (USD 0.5 million) for the three months ended December 31, 2023, reflecting positive swing of INR 79.3 million (USD 0.9 million) YoY.
- Result from operations were a profit of INR 14.8 million (USD 0.2 million) versus a loss of INR 58.2 million (USD 0.7 million) for the three months ended December 31, 2023, reflecting positive swing of INR 73.0 million (USD 0.9 million) YoY.
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Adjusted EBITDA(2)
was INR 121.5 million (USD 1.4 million) reflecting an increase by 173.0% YOY.