Yatra Online (YTRA) investor relations material

Executive summary

• Gross bookings rose 16.3% year-over-year to INR 21,007 million ($222 million), driven by resilient demand despite geopolitical and aviation headwinds.

• Added 53 new corporate customers in Q1, reinforcing leadership in the corporate travel segment.

• Initiated international expansion through a seven-year partnership with Kanoo Travel.

• Profit for the period dropped to INR 41 million ($0.4 million), impacted by weaker international MICE volumes and delayed airline incentives.

• Continued investment in AI, automation, and new business lines to drive efficiency and margin improvement.

Financial highlights

• Revenue from operations declined 10.4% year-over-year to INR 1,879 million ($20 million), mainly due to lower MICE top line.

• Gross margin increased 6.1% to INR 1,227 million ($13 million).

• Adjusted EBITDA grew 4.9% year-over-year to INR 216 million ($2 million), with a 17.6% EBITDA to gross margin ratio.

• Profit after tax was INR 41 million ($0.4 million), down 62.8% year-over-year.

• Total transactions reached 1,829,000, up 11% year-over-year.

Outlook and guidance

• Expectation of quick recovery in international and MICE travel as macro environment stabilizes.

• MICE bookings in early Q2 trending 50% higher than Q1, indicating rebound.

• Long-term growth anticipated from India's expanding online travel market and outbound travel.

• EBITDA margin targeted to rebuild towards 20%+ and potentially 30%+ over time.

• Focus remains on scaling higher-margin Hotels business and strengthening profitability.