Yatra Online, Inc. Announces Results for the Three Months and Year Ended March 31, 2024
GURUGRAM,
“Yatra’s Gross Bookings increased by 12.7% YoY in 4Q24, driven by a 15.1% growth in Air Gross Bookings. This growth was fueled by a robust rebound in international travel during what is typically the seasonally weakest quarter.
For the quarter ended
During the quarter we secured 25 new corporate customer accounts with an annual billing potential of INR 842 million. Among these new customers, two were international clients, along with several prestigious Indian companies including one of India’s largest Insurance providers. Subsequent to the end of the quarter, we also signed India’s largest bank as a
Furthermore, I am pleased to announce the launch of our Expense Management solution earlier this week. Yatra's Expense Management Solution stands out with its utilization of cutting-edge technologies including GenAI Large Language Models (LLMs) for receipt analysis. Unlike traditional OCR technology, this ensures more accurate and comprehensive expense tracking, significantly reducing errors and saving time. Additionally, it features an integrated chatbot based on Gen AI and RAG models. This solution not only meets current market demands but also anticipates future needs. Our Expense Management Solution is designed to grow with our clients, offering scalability and flexibility as their businesses evolve. We now have the opportunity to cross-sell this solution to our already well-established Corporate (and SME) customer base.
In alignment with our commitment to shareholder returns, we are also pleased to report a total repurchase of 3,185,025 shares as of
Financial and operating highlights for the three months ended
-
Revenue of INR 1,072.8 million (
USD 12.9 million ), representing a decrease of 10.2% year-over-year basis (“YoY”). -
Adjusted Margin(1) from Air Ticketing of INR 1,247.3 million (
USD 15.0 million ), representing a decrease of 14.5% YoY. -
Adjusted Margin(1) from Hotels and Packages of INR 288.8 million (
USD 3.5 million ), representing an increase of 7.6% YoY. -
Total Gross Bookings (Air Ticketing, Hotels and Packages and Other Services)(3) of INR 19,961.6 million (
USD 239.5 million ), representing an increase of 11.9% YoY. -
Profit for the period was INR 10.2 million (
USD 0.1 million ) versus a profit of INR 7.5 million (USD 0.1 million ) for the three months endedMarch 31, 2023 , reflecting an increase in profit by INR 2.7 million (USD 0.1 million ) YoY. -
Result from operations were a profit of INR 3.7 million (
USD 0.1 million ) versus a profit of INR 115.5 million (USD 1.4 million ) for the three months endedMarch 31, 2023 , reflecting a decrease in profit by INR 111.8 million (USD 1.3 million ) YoY. -
Adjusted EBITDA(2) Profit was INR 109.7 million (
USD 1.3 million ) reflecting a decrease by 40.9% YOY.
Financial and operating highlights for the year ended
-
Revenue of INR 4,238.2 million (
USD 50.9 million ), representing an increase of 10.7% year-over-year basis (“YoY”). -
Adjusted Margin(1) from Air Ticketing of INR 4,539.0 million (
USD 54.5 million ), representing an increase of 4.7% YoY. -
Adjusted Margin(1) from Hotels and Packages of INR 1,138.9 million (
USD 13.7 million ), representing an increase of 6.8% YoY. -
Total Gross Bookings (Air Ticketing, Hotels and Packages and Other Services)(3) of INR 75,948.0 million (
USD 911.3 million ), representing an increase of 12.7% YoY. -
Loss for the period was INR 326.0 million (
USD 3.9 million ) versus a loss of INR 288.2 million (USD 3.5 million ) for the year endedMarch 31, 2023 , reflecting an increase in loss by INR 37.9 million (USD 0.5 million ) YoY. -
Result from operations were a loss of INR 122.3 million (
USD 1.5 million ) versus a profit of INR 79.7 million (USD 1.0 million ) for the year endedMarch 31, 2023 , reflecting a decrease in profit by INR 202.0 million (USD 2.4 million ) YoY. -
Adjusted EBITDA(2) Profit was INR 304.4 million (
USD 3.7 million ) reflecting a decrease by 28.0% YOY.
Three months ended |
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|
|||||||
2023 |
|
2024 |
|
2024 |
|
YoY Change |
|||
Unaudited |
|
Unaudited |
|
Unaudited |
|
|
|||
(In thousands except percentages) |
INR |
|
INR |
|
USD |
|
% |
||
Financial Summary as per IFRS |
|||||||||
Revenue |
1,194,270 |
1,072,760 |
12,872 |
(10.2)% |
|||||
Results from operations |
115,546 |
3,749 |
44 |
(96.8)% |
|||||
Profit for the period |
7,547 |
10,222 |
120 |
35.5% |
|||||
Financial Summary as per non-IFRS measures |
|||||||||
Adjusted Margin (1) |
|||||||||
Adjusted Margin - Air Ticketing |
1,459,605 |
1,247,274 |
14,966 |
(14.5)% |
|||||
Adjusted Margin - Hotels and Packages |
268,386 |
288,841 |
3,466 |
7.6% |
|||||
Adjusted Margin - Other Services |
38,125 |
28,029 |
336 |
(26.5)% |
|||||
Others (Including Other Income) |
128,739 |
204,766 |
2,457 |
59.1% |
|||||
Adjusted EBITDA (2) |
185,648 |
109,659 |
1,316 |
(40.9)% |
|||||
Operating Metrics |
|||||||||
Gross Bookings (3) |
17,832,713 |
19,961,607 |
239,521 |
11.9% |
|||||
Air Ticketing |
15,122,132 |
17,158,179 |
205,882 |
13.5% |
|||||
Hotels and Packages |
2,107,435 |
2,205,063 |
26,459 |
4.6% |
|||||
Other Services (6) |
603,146 |
598,365 |
7,180 |
(0.8)% |
|||||
Adjusted Margin% (4) |
|
||||||||
Air Ticketing |
9.7% |
7.3% |
|||||||
Hotels and Packages |
12.7% |
13.1% |
|||||||
Other Services |
6.3% |
4.7% |
|||||||
Quantitative details (5) |
|
||||||||
Air Passengers Booked |
1,725 |
1,801 |
4.4% |
||||||
|
425 |
399 |
(6.2)% |
||||||
Packages Passengers Travelled |
5 |
6 |
11.7% |
||||||
|
|
Year ended |
|
YoY Change |
|
||||
|
|
2023 |
|
2024 |
|
2024 |
|
|
|
|
|
Unaudited |
|
Unaudited |
|
Unaudited |
|
|
|
(In thousands except percentages) |
|
INR |
|
INR |
|
USD |
|
% |
|
Financial Summary as per IFRS |
|
|
|
|
|
|
|
|
|
Revenue |
|
3,827,265 |
|
4,238,197 |
|
50,855 |
|
10.7% |
|
Results from operations |
|
79,666 |
|
(122,343) |
|
(1,468) |
|
(253.6)% |
|
Loss for the period |
|
(288,167) |
|
(326,041) |
|
(3,912) |
|
13.1% |
|
Financial Summary as per non-IFRS measures |
|
|
|
|
|
|
|
|
|
Adjusted Margin (1) |
|
|
|
|
|
|
|
|
|
Adjusted Margin - Air Ticketing |
|
4,335,292 |
|
4,538,977 |
|
54,463 |
|
4.7% |
|
Adjusted Margin - Hotels and Packages |
|
1,065,928 |
|
1,138,862 |
|
13,665 |
|
6.8% |
|
Adjusted Margin - Other Services |
|
177,685 |
|
180,256 |
|
2,163 |
|
1.4% |
|
Others (Including Other Income) |
|
574,237 |
|
708,460 |
|
8,501 |
|
23.4% |
|
Adjusted EBITDA (2) |
|
422,872 |
|
304,445 |
|
3,653 |
|
(28.0)% |
|
Operating Metrics |
|
|
|
|
|
|
|
|
|
Gross Bookings (3) |
|
67,397,495 |
|
75,948,026 |
|
911,304 |
|
12.7% |
|
Air Ticketing |
|
56,408,351 |
|
64,950,106 |
|
779,339 |
|
15.1% |
|
Hotels and Packages |
|
8,178,106 |
|
8,785,664 |
|
105,420 |
|
7.4% |
|
Other Services (6) |
|
2,811,038 |
|
2,212,256 |
|
26,545 |
|
(21.3)% |
|
Adjusted Margin% (4) |
|
|
|
|
|
|
|
|
|
Air Ticketing |
|
7.7% |
|
7.0% |
|
|
|
|
|
Hotels and Packages |
|
13.0% |
|
13.0% |
|
|
|
|
|
Other Services |
|
6.3% |
|
8.1% |
|
|
|
|
|
Quantitative details (5) |
|
|
|
|
|
|
|
|
|
Air Passengers Booked |
|
5,601 |
|
6,945 |
|
|
|
24.0% |
|
|
|
1,753 |
|
1,692 |
|
|
|
(3.5)% |
|
Packages Passengers Travelled |
|
21 |
|
24 |
|
|
|
12.3% |
|
Note: |
|
(1) |
As certain parts of our revenue are recognized on a “net” basis and other parts of our revenue are recognized on a “gross” basis, we evaluate our financial performance based on Adjusted Margin, which is a non-IFRS measure. |
(2) |
See the section below titled “Certain Non-IFRS Measures.” |
(3) |
Gross Bookings represent the total amount paid by our customers for travel services, freight services and products booked through us, including taxes, fees and other charges, and are net of cancellation and refunds. |
(4) |
Adjusted Margin % is defined as Adjusted Margin as a percentage of Gross Bookings. |
(5) |
Quantitative details are considered on a gross basis. |
(6) |
Other Services primarily consists of freight business, IT services, bus, rail and cab and others services. |
Conference Call
The Company will host a conference call to discuss its unaudited results for the three months and year ended
Safe Harbor Statement
This earnings release contains certain statements concerning the Company’s future growth prospects and forward-looking statements, as defined in the safe harbor provisions of the
About
View source version on businesswire.com: https://www.businesswire.com/news/home/20240530646233/en/
VP, Head of Corporate Development and Investor Relations
ir@yatra.com
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