Company Overview

Yatra Online Limited (Scrip Code: 543992, ISIN: INE0JR601024) submitted an investor presentation in connection with its unaudited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026 (Q1 FY27), pursuant to Regulation 30 of SEBI Listing Regulations.

Financial Performance Q1 FY27

Revenue from Operations declined 10.4% YoY to ₹1,879 Mn from ₹2,098 Mn in Q1 FY26, and decreased 0.6% QoQ from ₹1,890 Mn in Q4 FY26.

Revenue less service cost increased 6.1% YoY to ₹1,227 Mn from ₹1,156 Mn in Q1 FY26, and grew 8.3% QoQ from ₹1,133 Mn in Q4 FY26.

Adjusted EBITDA was ₹151 Mn, representing a 39.4% decline YoY from ₹249 Mn in Q1 FY26, and a 9.3% decline QoQ from ₹166 Mn in Q4 FY26. Adjusted EBITDA Margin stood at 12% compared to 22% in Q1 FY26 and 15% in Q4 FY26.

EBITDA (after ESOP cost) declined 45.6% YoY to ₹132 Mn from ₹242 Mn in Q1 FY26, but increased 4.2% QoQ from ₹126 Mn in Q4 FY26. EBITDA Margin was 11% compared to 21% in Q1 FY26 and 11% in Q4 FY26.

Profit Before Tax (PBT) decreased 95.4% YoY to ₹8 Mn from ₹171 Mn in Q1 FY26, and declined 86.3% QoQ from ₹57 Mn in Q4 FY26.

Profit After Tax (PAT) declined 97.9% YoY to ₹3 Mn from ₹160 Mn in Q1 FY26, and decreased 95.9% QoQ from ₹82 Mn in Q4 FY26. PAT Margin was 0.2% compared to 13.8% in Q1 FY26 and 7.2% in Q4 FY26.

Other Income decreased 32.4% YoY to ₹7 Mn from ₹11 Mn in Q1 FY26, and declined 57.7% QoQ from ₹17 Mn in Q4 FY26.

Finance Cost increased 89.8% YoY to ₹46 Mn from ₹24 Mn in Q1 FY26, and increased 5.2% QoQ from ₹44 Mn in Q4 FY26.

Finance Income decreased 24.3% YoY to ₹34 Mn from ₹45 Mn in Q1 FY26, and declined 60.4% QoQ from ₹86 Mn in Q4 FY26.

ESOP Cost increased 162% YoY to ₹19 Mn from ₹7 Mn in Q1 FY26, and decreased 51.8% QoQ from ₹40 Mn in Q4 FY26.

Operational Highlights Q1 FY27

Gross Bookings grew 16.5% YoY to ₹21,007 Mn, demonstrating continued market share gains.

Total Air and H&P Transactions increased 12.2% YoY. Air passengers grew 4.8% YoY, ahead of broader industry growth.

Hotel Room Nights grew approximately 30% YoY, supported by continued expansion of hotel supply.

Corporate Business remained strong with the addition of 53 new corporate customers with annual billable potential of ₹2,223 Mn. The MSME GTM team added 30+ new logos.

RECAP (AI-powered Expense Management solution) customer base increased to 20, reflecting continued adoption.

MICE Recovery is visible with Q2 pipeline 50%+ higher than Q1, with an improved margin profile.

International Expansion is underway through a seven-year partnership with Kanoo Travel, marking Yatra's first significant international expansion of its enterprise travel platform.

Profitability Challenges

The company cited several factors impacting profitability:

  • Weaker international MICE volumes and margins
  • Lower airline-related income as regional airlines delayed finalization of their incentives for the current fiscal year given the uncertain business environment
  • Higher ticket prices leading to muted corporate travel spending YoY, though this is expected to bounce back in Q2 and further improve through the year

Commercial discussions are ongoing with airlines, and the company expects a positive outcome in most cases in Q2.

Historical Financial Performance (Annual)

Revenue from Operations has shown consistent growth: FY23: ₹3,802 Mn, FY24: ₹4,223 Mn, FY25: ₹7,914 Mn, FY26: ₹10,065 Mn (27.2% YoY growth).

Revenue less service cost: FY23: ₹3,157 Mn, FY24: ₹3,359 Mn, FY25: ₹3,875 Mn, FY26: ₹4,824 Mn (24.5% YoY growth).

Adjusted EBITDA: FY23: ₹670 Mn, FY24: ₹534 Mn, FY25: ₹667 Mn, FY26: ₹917 Mn (37.5% YoY growth).

PAT: FY23: ₹76 Mn, FY24: (₹45) Mn loss, FY25: ₹365 Mn, FY26: ₹468 Mn (28.1% YoY growth).

Cash Flow Statement

For FY26, cash flow from operations was ₹761 Mn, compared to ₹73 Mn in FY25. Investing activities used ₹449 Mn in cash, while financing activities used ₹544 Mn in cash. Closing cash and cash equivalents including term deposits stood at ₹2,230 Mn.