Financial Performance Summary

Q2-FY27 Consolidated Financial Performance:

  • Revenue: INR 2,136 Mn (YoY decline of 39.1%)
  • Gross Margin (Revenue Less Service Costs): INR 1,255 Mn (YoY decline of 0.2%)
  • Adjusted EBITDA: INR 150 Mn (YoY decline of 41.2%)
  • EBITDA: INR 132 Mn (YoY decline of 47.0%)
  • EBITDA Margin: 10.48% (as percentage of RLSC)
  • Net Loss: INR 7 Mn (YoY decline of 105.2%)

H1-FY27 Consolidated Financial Performance:

  • Revenue: INR 4,015 Mn (YoY decline of 28.4%)
  • Gross Margin (Revenue Less Service Costs): INR 2,482 Mn (YoY growth of 2.8%)
  • Adjusted EBITDA: INR 301 Mn (YoY decline of 40.3%)
  • EBITDA: INR 263 Mn (YoY decline of 46.3%)
  • EBITDA Margin: 10.60% (as percentage of RLSC)
  • Net Loss: INR 4 Mn (YoY decline of 101.3%)

Note: Adjusted EBITDA and EBITDA include other income of INR 14 Mn for Q2-FY27 and INR 21 Mn for H1-FY27

Business Highlights

Gross Bookings Performance:

  • Q2-FY27: Gross bookings grew 6% YoY and 3% QoQ to INR 21,655 Mn
  • H1-FY27: Gross bookings increased 11% YoY to INR 42,661 Mn

Segment Performance:

Corporate Travel:

  • Corporate gross bookings increased 18% YoY and 10% QoQ
  • Added 54 new corporate customers during Q2-FY27 with estimated annual billable potential of INR 2,035 Mn
  • 54% of existing corporate customers increased their spending
  • Personal travel bookings by corporate employees grew 36% YoY

Air Business:

  • Gross Air Bookings grew 15% YoY to INR 17,006 Mn
  • Passenger volumes declined approximately 2% (outperforming 6% contraction in domestic aviation passenger traffic)
  • Air gross margin increased 29% YoY to INR 757 Mn

Hotels Business:

  • Standalone Hotels gross bookings increased 20% YoY

MICE Business:

  • Bookings recovered 37% QoQ
  • Faced temporary shift towards smaller corporate group programmes

Management Commentary

Chief Executive Officer Mr. Siddhartha Gupta commented on the results:

"Despite a challenging operating environment, our core Air, Hotel and Corporate Travel businesses continued to demonstrate resilience, outperforming the broader market and strengthening our competitive position. Our year-on-year profitability was impacted primarily by MICE, which faced an exceptionally strong comparable quarter last year and a tactical shift towards smaller corporate group programmes amid prevailing uncertainty. The sequential recovery in MICE and improving order book are encouraging early signs of normalisation. We continue to make progress on our strategic priorities, including expanding into the SME and mid-market segments through Travel Pro, strengthening our expense management offering through RECAP, expanding hotel supply and leveraging AI-led automation. These initiatives are helping us broaden our addressable market and build a more scalable business, positioning us for sustainable growth and improved profitability over the medium term."

Additional Information

  • Results prepared under Ind AS
  • Financial statements and segment results available in Investor Relations section at https://investors.yatra.com/Investor-Relations-India
  • Earnings conference call scheduled for November 13, 2026 at 11:30 AM IST
  • Analyst/institutional investor presentation will be submitted to Stock Exchanges and hosted on company website