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Travel Support Services company Yatra Online announced Q3FY24 results:
Financial Performance
- Revenue from Operations: Rs 1,103 million, representing a YoY growth of 23%.
- EBIDTA (Earnings Before Interest, Taxes, Depreciation, and Amortization): Rs 48 million, a decrease of 25% YoY.
- Adjusted EBIDTA: Rs 100 million, indicating an 11% decrease YoY.
- Net Profit: Achieved Rs 11 million, showing a significant increase of 119% YoY.
- Diluted Earnings Per Share (EPS): Rs 0.07.
- Gross Debt Reduction: The company managed to reduce its gross debt by 51% compared to the previous quarter.
Operational Highlights
- Domestic Air Passenger Growth: 26% YoY, outpacing the industry growth rate of 9%, which suggests market share gains by the company.
- Gross Bookings: Recorded an 18% YoY growth, reaching Rs 18,605 million.
- Corporate Business: Noted a subdued performance due to limited business travel spends, especially from IT/ITES clients.
- New Corporate Accounts: Closed 26 new corporate accounts with a cumulative annual billing potential of Rs 2,237 million.
Commenting on the results, Whole Time Director & Chief Executive Officer, Dhruv Shringi stated: “We are proud to report strong December quarter results. Yatra's Air Passenger segment recorded a robust growth, nearly tripling the industry benchmark of 9%. This reflects our strong brand recognition and our successful strategies in capturing market share. We further fortified our market leadership in the Corporate travel sector by onboarding 26 new corporate customer accounts in the December quarter in our Corporate business. In gratitude to our India shareholders and in a bid to further fortify our market position, we recently launched a complimentary Yatra Prime membership initiative. This program, which commenced last week, is our way of enhancing value and convenience in travel experiences for our shareholders. As we steer through the dynamic market landscape, we stay resolutely committed to seizing growth opportunities and ensuring the continued upward trajectory of Yatra.”
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