Online travel agency Yatra.com on Monday posted second quarter profit at Rs 5.99 crore, up 2.7 per cent as against Rs 5.83 crore during the same period last year. It posted revenue from operations at Rs 110.18 crore, up 23.9 per cent in comparison to Rs 88.96 crore during the second quarter of FY23. The company EBITDA stood at Rs 15.9 crore, up 34.4 per cent on-year.
Yatra.com posted total income during the quarter in review at Rs 112.64 crore, up 22.6 per cent from Rs 91.86 crore during Q2FY23. Meanwhile, total expenses during the second quarter of FY24 was at Rs 105.31 crore, up 23.8 per cent as against Rs 85.07 crore during the same period last year.
The online travel agency posted its strongest quarter on the air front since Covid with the highest number of air passengers booked since December 2019, up 41.5 per cent on-year far outpacing domestic air passenger industry growth of 14.8 per cent on-year. It said that the company has signed 19 new corporate customer accounts in corporate business with an annual billing potential of Rs 151.00 crore. “Company’s domestic passenger traffic grew 6 per cent sequentially, at 2x the pace of India’s domestic passenger traffic, reflecting strong market share gains for both consumer and corporate businesses,” the company said in a regulatory filing.
On the hotels front, revenue from Hotels and Packages business was Rs 44.80 crore, as compared to Rs 38.10 crore in the year ago quarter, reflecting an increase of 17.6 per cent, on account of recovery in domestic travel, along with addition of new distribution partners.
“We started FY24, on a strong footing on the Air front with the highest number of Air Passengers booked since pre-COVID, up 41.5 per cent YoY far outpacing India’s domestic air passenger industry growth of 14.8 per cent YoY clearly demonstrating our ability to gain market share and the strength of the Yatra brand. We further fortified our leadership in the corporate travel sector by signing 19 new corporate customer accounts in the June quarter in our corporate business with an annual billing potential of Rs 151 crore underlining the capabilities and leadership of our Corporate Travel SaaS platform. As we move forward, we remain optimistic and committed to leveraging these positive trends to drive further growth and success,” said Dhruv Shringi, Whole Time Director & Chief Executive Officer, Yatra.com.