Yatra Revenue Reaches $22.3 Million With Quarterly Loss of $2.3 Million
Key Facts
Yatra Online reported unaudited results on November 12 for the second quarter of its fiscal 2027, ended September 30, 2026, recording revenue from operations of 2,136.0 million Indian rupees, equivalent to $22.3 million. The company said in its filing with the U.S. Securities and Exchange Commission that revenue fell 39.1% from the same period a year earlier, but rose 13.7% from the first quarter of the fiscal year. It swung to a loss of 223.1 million rupees, or $2.3 million, from a profit of 98.8 million rupees, or $1.0 million, a year earlier. Adjusted earnings before interest, taxes, depreciation and amortization also recorded a loss of 32.2 million rupees, equivalent to $0.3 million, after a profit of 212.0 million rupees a year earlier. The company reported the results as its business faced a divergence between weakness in hotels and events and improvement in air ticketing and gross bookings.
Yatra said the annual revenue decline mainly reflected lower revenue from its meetings, incentives, conferences and exhibitions segment, which records revenue on a gross basis. It said adjusted gross margin remained stable year on year despite the sharp drop in revenue. The decline was concentrated in hotels and packages, where revenue fell 56.4% to 1,180.1 million rupees in the three months ended September 30. The company linked this performance to its conferences, incentives and events business, while its chief executive said gross bookings for standalone hotels grew about 20% annually. By contrast, gross bookings for the hotels and packages segment fell about 20.7%, as companies postponed or scaled back conference programs amid higher travel costs, while some postponed programs began to be rescheduled during the quarter.
On the other hand, air ticketing revenue rose 23.1% year on year to 756.5 million rupees. Adjusted margin for the business grew to 1,227.5 million rupees, compared with 1,016.0 million in the same period last year. The company said gross air ticket bookings increased about 14.8% and its adjusted margin rose 20.8%, reaching 5.6% of gross bookings compared with 6.9% a year earlier. The filing added that improved realization rates offset a higher distribution mix and competitive promotions. Bookings grew amid a decline in domestic air traffic across the sector of about 6% year on year and 16% from the previous quarter, according to company figures.
The company’s gross bookings totaled 21,654.6 million rupees, or $226.0 million, up 5.7% year on year and 3.2% from the previous quarter. Yatra attributed market pressures to the conflict in the Middle East and higher fuel prices and airfares, alongside airlines’ capacity adjustments. Explaining its performance measure, the company said adjusted margin is a non-standard metric it uses because some revenue is recorded gross and some on a net basis. It added that presentation of the metric “is not intended to be considered in isolation or as a substitute” for results prepared under International Financial Reporting Standards. Cash, cash equivalents and fixed deposits totaled 2,304.1 million rupees, equivalent to $24.3 million, on September 30, 2026.
Regarding its plans, the chief executive said the company would focus on rebuilding its conferences and events business as corporate demand recovers, expanding its hotel business and improving profitability in air travel, hotels and packages. He said the company intends to use technology, artificial intelligence and automation to improve service efficiency. Yatra disclosed a cybersecurity incident on November 1 and said it had activated response measures and did not currently believe the incident had materially affected core operations, financial performance or business continuity, while the investigation continued. Nasdaq notified the company on November 10 that it had not met the minimum bid price requirement during the period from September 29 to November 9, and granted it an initial 180-day period, through May 10, 2027, to regain compliance. The company was scheduled to hold a call to discuss the results on November 13 at 08:00 a.m. Eastern Time, or 06:30 p.m. India Standard Time.