Yatra Online (YTRA) Q1 2025 earnings summary

Executive summary

• Total revenue for Q1 FY25 was INR 1,051 million ($12.6 million), down 5% year-over-year, mainly due to lower B2C volumes amid price competition.

• Adjusted EBITDA dropped 43.2% year-over-year to INR 65.6 million ($800,000), impacted by lower volumes and investment in new initiatives.

• Corporate Travel segment showed robust growth, adding 34 new corporate accounts with annual billing potential up 77% sequentially, and strong progress in the MICE segment.

• Strategic focus is on expanding the corporate segment, launching new products, cost optimization, and restructuring to enhance efficiencies.

• Board approved a restructuring plan to simplify the corporate structure and enhance operational efficiency.

Financial highlights

• Adjusted revenue was INR 1,422 million ($17.1 million), down 14% year-over-year.

• Adjusted Margin from Air Ticketing was INR 919 million ($11 million), down 20.7% year-over-year; Hotels and Packages margin was INR 277.1 million ($3.3 million), down 9.9%.

• Gross bookings declined 16.6% year-over-year to INR 16,547.6 million ($198.6 million), mainly due to a 20% drop in air gross bookings; hotel and packages bookings remained flat.

• Loss for the period was INR 0.8 million ($0.1 million), improved from a loss of INR 23.9 million ($0.3 million) year-over-year.

• Cash, cash equivalents, and term deposits stood at INR 4.5 billion ($54 million); gross debt at an all-time low of INR 210 million ($2.5 million).

Outlook and guidance

• Corporate travel and MICE segments are expected to drive future growth, with early signs of strong business in the September quarter.

• Expense management solution (RECAP) is in pilot phase, with material revenue contribution expected next fiscal year.

• Strategic M&A opportunities are being explored to bolster the Corporate Travel segment.

• Cost savings from optimization initiatives are expected to be realized starting in September.

• The company remains focused on strengthening market leadership and driving long-term value.