ATRA Online Sees Record-Breaking Growth: 151% Revenue Increase, 285% EBITDA Growth, and 143% Rise in Net Profit
November 15th 2024: Yatra Online Limited {BSE: 543992 & NSE: YATRA}, India’s largest corporate travel services provider and the third largest online travel company in India among key OTA players* announces its results for the second quarter of financial year 2024-25.
Q2-FY25 Consolidated Financial Performance
| Revenue
INR 2,364 Mn YoY Growth: 151% |
EBITDA
INR 111 Mn YoY Growth: 285% |
EBITDA Margin
12%
|
PAT
INR 73 Mn YoY Growth: 143% |
Q2-FY25 Business Highlights:
- For Q2-FY25, Yatra reported revenue of INR 2,364 million, up 151% YoY, largely due to outperformance of our Hotels and Packages business and contribution from the MICE segment. The results for the quarter also include contribution from Globe All India Services Limited (Globe Travels) for 20 days of the quarter from September 11-30, 2024.
- Yatra continued to expand its corporate client base and closed 29 new corporate accounts during the quarter with billing potential of INR 1,213 million.
- On September 11, 2024, Yatra completed the acquisition of Globe Travels for INR 1,280 million in cash. This strategic acquisition brought approximately 360 new corporate clients, further strengthening Yatra’s leadership in India’s corporate travel sector.
- Yatra’s cash and cash equivalent and term deposit stands at INR 2,129 million as on 30th September 2024 compared to 6,441 million as on 30th September 2023.
- Yatra’s gross debts stands at INR 277 million as on 30th September 2024 compared to INR 1,742 million as on 30th September 2023.
Management Comments:
Commenting on the results, Whole Time Director cum Chief Executive Officer, Mr. Dhruv Shringi stated:
“For the three months ended September 30, 2024, we reported strong growth both year over year and sequentially. Our Revenue grew 151% year-over-year to INR 2,364 million, on account of strong growth in our Hotel and Packages and MICE (Meetings, Incentives, Conferences, and Exhibitions) businesses. Adjusted EBITDA at INR 136 million for the quarter was up 29% year-over-year. Despite the challenges in the B2C air business, we continue to drive strong growth in our Hotels and MICE lines of business, which helped us more than offset the negative impact of the B2C air business.
We also successfully completed the acquisition of Globe Travels and welcomed the Globe employees and customers to the Yatra family. Globe Travels’ expertise in MICE complements our recent organic expansion in this segment, positioning Yatra as one of India’s largest players in this segment. With minimal overlap in client portfolios, this acquisition diversifies our client base and enhances cross-selling opportunities for hotels and expense management services. Additionally, integrating our digital booking platform with Globe’s largely offline business is expected to drive synergies, operational efficiencies, and cost savings for our corporate clients.
We are encouraged by the strong momentum across all metrics in our Corporate Travel business, underscored by our growth in new accounts and MICE capabilities. As we continue to navigate a dynamic market, our focus remains on executing our strategic priorities to reinforce our market leadership and drive long-term value for stakeholders.”
