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Yatra Online (YTRA) investor relations material
Yatra Online Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 FY26 delivered strong results, surpassing guidance, with robust growth in both B2C and B2B segments, and positive unit economics in the consumer business.
Achieved revenue of INR 2,576.9 million (USD 28.7 million), up 9.6% year-over-year, driven by growth in Air Ticketing and Hotels and Packages despite aviation sector disruptions and geopolitical headwinds impacting international travel.
Onboarded 40 new corporate clients, expanding annual billing potential by INR 2,234 million (USD 24.9 million).
Outbound and long-haul travel is in a structural upcycle, benefiting organized travel platforms, supported by government policy and infrastructure investments.
AI-driven platforms and digitization are transforming travel procurement, with self-booking and expense management solutions gaining traction.
Financial highlights
Revenue from operations grew 10% year-on-year to INR 2,577 million ($29 million), driven by robust air ticketing growth.
Gross bookings rose 20.9% year-over-year to INR 21,761.9 million (USD 242.2 million), with strong contributions from business travel, affiliate, and consumer segments.
Adjusted Margin from Air Ticketing increased 39.4% year-over-year to INR 1,195.8 million (USD 13.3 million); Hotels and Packages Adjusted Margin rose 14.6% to INR 502.1 million (USD 5.6 million).
Adjusted EBITDA for Q3 FY26 was INR 99.7 million (USD 1.1 million), down 17.9% year-over-year; loss for the period was INR 129.3 million (USD 1.4 million).
Cash and equivalents stood at INR 2,042 million (USD 22.7 million) as of December 31, 2025; gross debt increased to INR 583 million (USD 6.5 million).
Outlook and guidance
Management expects continued growth in both corporate and consumer segments, leveraging technology, cross-selling, and new sales initiatives.
Corporate travel segment has significant headroom for growth, with online penetration at 23% and a sharpened go-to-market strategy targeting both large and SME clients.
Focus remains on scaling high-margin segments, deepening technology capabilities, and driving sustainable long-term value.
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