Travel service provider Yatra Online Ltd on Monday (October 16) reported a 2.74% year-on-year (YoY) rise in consolidated net profit at ₹5.99 crore for the first quarter that ended September 30, 2023.
In the corresponding quarter last year, Yatra Online posted a net profit of ₹5.83 crore, the company said. Yatra Online Ltd is a new listing and has posted Q1 instead of Q2.
In the quarter, consolidated revenue from operations stood at ₹110.1 crore during the period under review, up 24% against ₹89 crore in the corresponding period of the preceding fiscal.
At the operating level, consolidated EBITDA stood at ₹15.9 crore in the second quarter of this fiscal over ₹11.8 crore in the corresponding period in the previous fiscal.
Consolidated EBITDA margin stood at 14.1% in the reporting quarter compared to 13.3% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
The company reported the strongest quarter on the air front since the advent of COVID-19 with the highest number of air passengers booked since pre-COVID in December 2019, up 41.5% year-on-year far outpacing domestic air passenger industry growth of 14.8% year-on-year.
Yatra Online signed 19 new corporate customer accounts with an annual billing potential of ₹151 crore. The company’s domestic passenger traffic grew 6% sequentially, at 2x the pace of India’s domestic passenger traffic.
On the hotels front, revenue from the hotels and packages business was ₹44.8 crore, compared to ₹38.1 crore in the year-ago quarter, reflecting an increase of 17.6%, on account of recovery in domestic travel, along with the addition of new distribution partners.
Dhruv Shringi, Whole-Time Director and Chief Executive Officer, said, "We started FY24, on a strong footing on the air front with the highest number of air passengers booked since pre-COVID, up 41.5% year-on-year far outpacing India’s domestic air passenger industry growth of 14.8% year-on-year, clearly demonstrating our ability to gain market share and the strength of the Yatra brand."
Shares of Yatra Online Ltd ended at ₹146.10, down by ₹6.15, or 4.04%, on the BSE.
