In This Article:
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Revenue: INR2.35 billion, a year-over-year increase of 113%.
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Gross Margin (Revenue less Service Cost): INR1.04 billion, up 25% year over year.
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Adjusted EBITDA: INR121.5 million (USD1.4 million), a 173% year-over-year increase.
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Gross Bookings: INR1.8 billion (USD211 million), a 3.4% decline year over year.
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Corporate Clients Onboarded: 50 new clients, adding an annual billing potential of INR2.8 billion (USD32.2 million).
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Hotels and Packages Segment Growth: 81% year-over-year increase.
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Adjusted Margin - Air Ticketing: INR858 million (USD10 million), down 23% year over year.
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Adjusted Margin - Hotels and Packages: INR438 million (USD5.1 million), up 66% year over year.
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Marketing and Sales Promotion Costs: Declined by 32% year over year.
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Personnel Expenses: Increased by 34% year over year.
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Other Operating Expenses: Increased by 9% year over year.
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Cash and Term Deposits: INR1.89 billion (USD22 million).
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Gross Debt: INR33 million, below USD50 million.
Release Date: February 11, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Yatra Online Inc (NASDAQ:YTRA) reported a significant year-over-year revenue increase of 113%, reaching INR2.35 billion.
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The company's gross margin grew by 25% year over year, driven by strong performance in the hotels and packages segment.
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Yatra Online Inc (NASDAQ:YTRA) onboarded a record 50 new corporate clients, adding an annual billing potential of INR2.8 billion.
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The integration of the recently acquired company, Globe, is progressing ahead of schedule, contributing positively to profitability.
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Adjusted EBITDA surged by 75% year over year to INR12.1 million, highlighting the success of strategic initiatives and operational efficiency.
Negative Points
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Gross bookings declined by 3.4% year over year, primarily due to reduced air travel volumes in the B2C segment.
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The air ticketing segment experienced a 23% year-over-year decline in adjusted margin, attributed to low gross bookings and a reduction in headline take rate.
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Marketing and sales promotion costs decreased by 32% year over year, indicating potential challenges in maintaining customer engagement.
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Personal expenses increased by 34% year over year, driven by the full-quarter impact of the Globe acquisition and annual appraisals.
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Other operating expenses rose by 9% year over year, primarily due to the business combination effect and the acquisition of Globe.
Q & A Highlights
Q: Can you provide insights into the size and potential of the MICE market in India? A: MICE in India is a highly fragmented market, with the organized sector accounting for only about 15% of the overall business. The total MICE market is estimated to be between $8 billion to $10 billion annually, offering significant long-term growth opportunities as we expand our presence in this sector. - Dhruv Shringi, CEO