Yatra Online, Inc. Announces Results for the Three Months Ended June 30, 2024
GURUGRAM,
“For the three months ended
Despite challenges in the B2C segment during the June quarter, the
In addition, we made significant strides in our Meetings, Incentives,
Progress continues toward simplifying our corporate structure, with the Board-appointed restructuring committee actively engaging with all relevant stakeholders. The committee is diligently working on developing a comprehensive proposal to streamline our operations and enhance shareholder value.
The June quarter posed challenges for our B2C segment; however, we are encouraged by the strong momentum we are witnessing in our
Financial and operating highlights for the three months ended
-
Revenue of INR 1,050.7 million (
USD 12.6 million ), representing a decrease of 5.0% year-over-year basis (“YoY”). -
Adjusted Margin (1) from Air Ticketing of INR 919.0 million (
USD 11.0 million ), representing a decrease of 20.7% YoY. -
Adjusted Margin (1) from Hotels and Packages of INR 277.1 million (
USD 3.3 million ), representing a decrease of 9.9% YoY. -
Total Gross Bookings (Air Ticketing, Hotels and Packages and Other Services)(3) of INR 16,547.6 million (
USD 198.6 million ), representing a decrease of 16.6% YoY. -
Loss for the period was INR 0.8 million (
USD 0.1 million ) versus a loss of INR 23.9 million (USD 0.3 million ) for the three months endedJune 30, 2023 , reflecting a decline in loss by INR 23.1 million (USD 0.3 million ) YoY. -
Result from operations were a loss of INR 34.1 million (
USD 0.4 million ) versus a profit of INR 52.7 million (USD 0.6 million ) for the three months endedJune 30, 2023 , reflecting a decrease in profit by INR 86.8 million (USD 1.0 million ) YoY. -
Adjusted EBITDA(2) was INR 65.6 million (
USD 0.8 million ) reflecting a decrease by 43.2% YOY.
Three months ended |
|||||||||||||
2023 |
|
2024 |
|
2024 |
|
YoY Change |
|||||||
Unaudited |
|
Unaudited |
|
Unaudited |
|||||||||
(In thousands except percentages) |
INR |
INR |
USD |
% |
|||||||||
Financial Summary as per IFRS |
|||||||||||||
Revenue |
1,105,817 |
|
1,050,717 |
|
12,609 |
|
(5.0 |
)% |
|||||
Results from operations |
52,721 |
|
(34,125 |
) |
(410 |
) |
(164.7 |
)% |
|||||
Loss for the period |
(23,944 |
) |
(763 |
) |
(10 |
) |
96.8 |
% |
|||||
Financial Summary as per non-IFRS measures |
|||||||||||||
Adjusted Margin (1) |
|||||||||||||
Adjusted Margin - Air Ticketing |
1,159,032 |
|
918,951 |
|
11,028 |
|
(20.7 |
)% |
|||||
Adjusted Margin - Hotels and Packages |
307,621 |
|
277,141 |
|
3,326 |
|
(9.9 |
)% |
|||||
Adjusted Margin - Other Services |
32,728 |
|
72,117 |
|
865 |
|
120.4 |
% |
|||||
Others (Including Other Income) |
153,988 |
|
154,484 |
|
1,854 |
|
0.3 |
% |
|||||
Adjusted EBITDA (2) |
115,405 |
|
65,590 |
|
787 |
|
(43.2 |
)% |
|||||
Operating Metrics |
|||||||||||||
Gross Bookings (3) |
19,834,376 |
|
16,547,649 |
|
198,580 |
|
(16.6 |
)% |
|||||
Air Ticketing |
16,923,959 |
|
13,520,293 |
|
162,250 |
|
(20.1 |
)% |
|||||
Hotels and Packages |
2,404,142 |
|
2,398,832 |
|
28,787 |
|
(0.2 |
)% |
|||||
Other Services (6) |
506,275 |
|
628,524 |
|
7,543 |
|
24.1 |
% |
|||||
Adjusted Margin% (4) |
|
||||||||||||
Air Ticketing |
6.8 |
% |
6.8 |
% |
|||||||||
Hotels and Packages |
12.8 |
% |
11.6 |
% |
|||||||||
Other Services |
6.5 |
% |
11.5 |
% |
|||||||||
Quantitative details (5) |
|
||||||||||||
Air Passengers Booked |
1,825 |
|
1,330 |
|
(27.1 |
)% |
|||||||
|
491 |
|
417 |
|
(15.1 |
)% |
|||||||
Packages Passengers Travelled |
6 |
|
7 |
|
17.4 |
% |
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. |
As of
Convenience Translation
The unaudited condensed consolidated financial statements are stated in INR. However, solely for the convenience of readers, the unaudited condensed consolidated statement of profit or loss and other comprehensive loss for the three months ended
Conference Call
The Company will host a conference call to discuss its unaudited results for the three months 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/20240812870526/en/
VP, Head of Corporate Development and Investor Relations
ir@yatra.com
Source: