Yatra ( (YTRA) ) has released its Q2 earnings. Here is a breakdown of the information Yatra presented to its investors.
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Yatra Online, Inc., a leading corporate travel services provider and one of India’s top online travel companies, recently released its financial results for the quarter ending September 30, 2024. The company is headquartered in Gurugram, India, and trades on NASDAQ under the ticker YTRA.
Yatra reported a significant increase in revenue, reaching INR 2,363.3 million (USD 28.2 million), reflecting a 149.4% year-over-year growth. Despite a decline in the B2C air ticketing segment, the company saw strong performance in its Hotels and Packages business, driven by the Meetings, Incentives, Conferences, and Exhibitions (MICE) sector. The company’s Adjusted EBITDA also saw a notable increase of 91.2%, reaching INR 66.7 million (USD 0.8 million).
Key highlights include the successful acquisition of Globe All India Services, which added approximately 360 new corporate clients and enhanced Yatra’s position in the MICE sector. The acquisition is expected to provide synergies and operational efficiencies. Additionally, Yatra secured 29 new corporate clients, with an annual billing potential of INR 1,213.0 million (USD 14.5 million). The company’s gross bookings saw a slight increase, with significant growth in Hotels and Packages.
Yatra’s strategic focus on restructuring and optimizing its corporate structure continues, aiming to reduce costs and drive growth. The company remains optimistic about maintaining its market leadership and delivering long-term value to stakeholders despite market challenges in the air travel segment.
Looking forward, Yatra’s management is focused on executing its strategic priorities, leveraging recent acquisitions, and further expanding its corporate travel services, particularly in the MICE sector. The company plans to continue navigating the dynamic market landscape to reinforce its leadership and enhance stakeholder value.
