Revenue soared 56.5% to INR 198.9 Cr in FY22 due to recovery in domestic travel demand.
Yatra’s loss declined 80.4% to INR 11.7 Cr during the March quarter
Yatra India listing will strengthen balance sheet and better position us to take advantage of the rapidly recovering leisure and business market travel in India: CEO
Online travel aggregator (OTA) Yatra Online on Friday (June 3) reported a 59.6% decline in its loss for financial year 2021-22 (FY22) to INR 48.2 Cr.
The travel portal also saw its revenue soar 56.5% to INR 198.9 Cr in FY22 due to recovery in domestic travel demand. The company said its business travel vertical is operating at 90% of pre-Covid levels.
Revenue from air-ticketing business rose to INR 115.05 Cr in FY22 from INR 89.3 Cr during the same period last year, while that from hotel and packages vertical grew by 200% to INR 52 Cr in the year ended March 2022.
The company also said that it delivered operating profitability with an adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of INR 159 Cr in FY22 as compared to a loss of INR 37.8 Cr in FY21.
Its marketing expenses rose 56% to INR 12.4 Cr, while personnel expenses grew 31.2% to INR 102.1 Cr.
Gross booking amount across all verticals surged 116.8% to INR 34,284 Cr in FY22.
On a quarterly basis, the loss for the quarter ended March 2022 declined 80.4% to INR 11.7 Cr from INR 59.7 Cr in the fourth quarter (Q4) of FY21, while it declined 19% from INR INR 14.4 Cr in preceding December quarter.
Revenue soared 19.3% in Q4 FY22 to INR 60.4 Cr from INR 50.6 Cr in Q4 FY21, but declined 3.5% from INR 62.7 Cr in Q3 2022.
The OTA player registered a positive adjusted EBITDA of INR 5.2 Cr in Q4 FY22 compared to INR 9.2 Cr for the quarter ended March 2021.
Personnel expenses rose 25.6% to INR 25.4 Cr during the quarter, while marketing expenses rose 4.5% to INR 3.3 Cr. Total gross booking amounted to INR 1,142.6 Cr, up from INR 800.1 Cr in Q4 FY21.
On the listing plans of its Indian subsidiary, Yatra Online Ltd, the company’s co-founder and CEO Dhruv Shringi said, “We are working with the regulator to obtain the necessary clearances for DRHP and the offering. We expect this offering, if completed, to strengthen our balance sheet and better position us to take advantage of the rapidly recovering leisure and business market travel in India.”
Yatra India filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) in March for INR 750 Cr IPO.
Shares of Yatra Online, which is listed on the Nasdaq, opened weakly on Friday. As of 10:13 am EST (7:43 PM IST), the stock was trading 4.59% lower at $1.87.
