Board Meeting Details

The Board of Directors meeting was held on August 12, 2026, commencing at 02:15 PM IST and concluding at 07:45 PM IST.

Key Board Approvals

A. Un-audited Standalone and Consolidated Financial Results for Q1 FY27:

  • Approved unaudited standalone and consolidated financial results for quarter ended June 30, 2026
  • Statutory auditors MSKA & Associates LLP carried out a 'Report on Limited Review'
  • Financial results attached as Annexure A

B. Re-appointment of Internal Auditors:

  • Re-appointed M/s. Ernst & Young LLP as Internal Auditor for Financial Year 2026-27
  • Based on recommendation of the Audit Committee
  • Prescribed details and brief profile enclosed as Annexure B

Standalone Financial Performance (Amounts in millions INR)

Quarter Ended June 30, 2026 (Current Quarter):

  • Total Income: ₹1,630.19
  • Total Expenses: ₹1,567.95
  • Profit Before Exceptional Item and Tax: ₹62.24
  • Exceptional Items (Employee benefit expenses): ₹62.24
  • Profit Before Tax: ₹(0.58)
  • Tax Expense: Not quantified (marked as 'i')
  • Profit for the Period: ₹62.82
  • Other Comprehensive Income: ₹(1.20)
  • Total Comprehensive Income: ₹61.62
  • Basic EPS: ₹0.40
  • Diluted EPS: ₹0.40

Comparative Quarter Ended June 30, 2025:

  • Profit for the Period: ₹135.13
  • Basic EPS: ₹0.88
  • Diluted EPS: ₹0.88

Year Ended March 31, 2026:

  • Profit for the Year: ₹122.56
  • Basic EPS: ₹0.78
  • Diluted EPS: ₹0.78

Consolidated Financial Performance (Amounts in millions INR)

Quarter Ended June 30, 2026 (Current Quarter):

  • Profit Before Tax: ₹7.78
  • Tax Expense: ₹4.39
  • Profit for the Period: ₹3.39
  • Total Comprehensive Income: ₹1.70
  • Profit Attributable to Owners: ₹3.39

Comparative Quarter Ended June 30, 2025:

  • Profit for the Period: ₹159.97

Year Ended March 31, 2026:

  • Profit for the Year: ₹468.10

Segment-wise Performance (Consolidated)

The company operates in three reportable segments:

1. Air Ticketing

2. Hotels and Packages

3. Other services

Quarter Ended June 30, 2026 Revenue:

  • Total Revenue: ₹805.34 million
  • Air Ticketing: ₹606.37 million
  • Hotels and Packages: ₹130.03 million
  • Other services: ₹68.94 million

Critical Notes to Financial Results

Note 2A: IPO Proceeds Utilization Status (as of June 30, 2026)

  • Strategic investments, acquisitions: ₹210.20 million unutilized (out of ₹1,500.00 million allocated)
  • Customer acquisition, technology: ₹387.49 million unutilized (out of ₹3,920.00 million allocated)
  • General corporate purposes: ₹96.97 million unutilized (out of ₹280.97 million allocated)
  • Total unutilized: ₹694.66 million
  • Unutilized proceeds temporarily invested in fixed deposits with scheduled commercial banks

Note 2B: SEBI Queries on IPO Proceeds Utilization

  • Received queries from NSE and SEBI regarding deposits/advances aggregating ₹3,391.44 million given from IPO proceeds till June 30, 2024
  • These were classified as utilization under "Investment in Customer acquisition and Retention, Technology and other Organic Growth initiative"
  • Company responded to queries; received further clarification requests from SEBI on December 26, 2025
  • Based on legal opinions, management believes classification is in accordance with Offer Document
  • No communication received from SEBI since last response submission

Note 5: Amalgamation

  • Board approved amalgamation with six wholly-owned subsidiaries on August 12, 2024
  • NCLT Mumbai approved scheme with appointed date of April 1, 2024 (order dated October 14, 2025)
  • Certified copy submitted to Registrar of Companies, Mumbai
  • Figures restated for all periods presented using pooling of interest method

Note 6: Exceptional Items - Labour Code Implementation

  • Government notified four Labour Codes on November 21, 2025
  • Company recognized incremental impact of ₹27.00 million (₹17.75 million for Gratuity + ₹9.25 million for long-term compensated absences)
  • Treated as exceptional item due to regulatory-driven, non-recurring nature
  • Evaluating impact on contract workers, not expected to be material

Note 7: Tax Treatment

  • Taxable profit set off against brought forward tax losses/unabsorbed depreciation
  • Deferred tax assets not recognized on these items
  • Deferred tax assets also not recognized on amounts reported under Other Comprehensive Income

Internal Auditor Reappointment Details

  • M/s. Ernst & Young LLP reappointed as Internal Auditor for FY 2026-27
  • Effective from August 12, 2026
  • Term: Financial Year 2026-27
  • EY described as global big 4 firm operating in 150 countries
  • No relationships between directors disclosed (not applicable)