• Total Revenue: INR1,051 million (USD12.6 million), down 5% year over year.

• Adjusted Revenue: INR1,422 million (USD17.1 million), down 14% year over year.

• Adjusted EBITDA: INR65.6 million (USD800,000), down from INR115.4 million in the same period last year.

• Gross Bookings Decline: 17% year over year, with a 20% decline in air gross bookings.

• Adjusted Air Ticketing Margins: Decreased by 21% due to lower volumes.

• Corporate Customer Accounts: 34 new accounts with an annual billing potential of INR2,028 million (USD24.3 million).

• Marketing and Sales Promotion Expenses: Reduced by 25% year over year.

• Personnel Expenses: Increased by 23% year over year.

• Cash, Cash Equivalents, and Term Deposits: INR4.5 billion (USD54 million).

• Gross Debt: INR210 million (USD2.5 million), at an all-time low.

• Warning! GuruFocus has detected 5 Warning Signs with YTRA.

Release Date: August 13, 2024

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Yatra Online Inc (NASDAQ:YTRA) secured 34 new corporate customer accounts with an annual billing potential of approximately $24.3 million, showing strong growth in the corporate travel segment.

• The company is actively expanding its MICE (Meetings, Incentives, Conferences, and Exhibitions) business, which is expected to grow significantly in the coming quarters.

• Yatra Online Inc (NASDAQ:YTRA) is focusing on strategic investments in the corporate travel sector, including new products like Visa services and car rental services.

• The company has initiated a cost optimization program, which includes streamlining over 100 positions, expected to yield benefits starting in September.

• Yatra Online Inc (NASDAQ:YTRA) has a strong cash position with cash, cash equivalents, and term deposits of approximately USD54 million, and gross debt at an all-time low of USD2.5 million.

Negative Points

• Total revenue for the quarter ended June 30, 2024, was down 5% year over year, with adjusted revenue down 14% due to lower volumes in the B2C segment.

• Adjusted EBITDA decreased to approximately USD800,000 from USD115 million in the same period last year, partly due to lower volumes and increased expenses from new initiatives.

• The B2C segment faced challenges with a 21% decrease in adjusted air ticketing margins due to reduced volumes and intensified price competition.

• Yatra Online Inc (NASDAQ:YTRA) experienced a 17% year-over-year decline in gross bookings, primarily due to a 20% decline in air gross bookings.

• The company is facing increased customer acquisition costs in the B2C market due to deeply discounted fares offered directly by India's largest airline on its website and mobile app.