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Travel Support Services company Yatra Online announced Q4FY24 & FY24 results:
Q4FY24 Financial Highlights:
- Revenue Rs 1,077 million, YoY: -10%
- EBITDA: Rs 108 million, YoY: -48%
- EBITDA Margin: 13%
- Net Profit: Rs 56 million, YoY: -38%
FY24 Financial Highlights:
- Revenue: Rs 4,223 million YoY Growth: 11%
- EBITDA: Rs 273 million YoY: -47%
- EBITDA Margin: 8%
- Net Profit: Rs (45) million YoY: -159%
Commenting on the results, Whole Time Director & Chief Executive Officer, Dhruv Shringi stated: “Yatra’s Gross Bookings increased by 12% YoY in the fourth quarter of FY24, driven by a 13.5% growth in Air Gross Bookings. This growth was fueled by a robust rebound in international travel in what is typically the seasonally weakest quarter. Additionally, our EBITDA increased by 128% sequentially reaching to Rs 108 million from Rs 48 million in the Q3FY24, due to increase in gross bookings and optimization of cost. Further, our EBITDA margin % increased by approximately 700 BPs sequentially reaching 13% for quarter ended March 31, 2024. For FY24, we largely met or exceeded Analyst expectations."
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