TBM Staff - Mumbai Yatra has reported positive financial results for the third quarter of the fiscal year 2024 (Q3 FY24), signalling a strong rebound after a challenging second quarter. The company recorded profits and surpassed the INR 110 crore-revenue mark during this period.
According to the consolidated financial results obtained from the National Stock Exchange, Yatra’s revenue from operations grew by 17.2% to INR 110.3 crore in Q3 FY24, compared to INR 94.13 crore in Q2 FY24. This represents a significant increase of over 23% from the same quarter in the previous fiscal year (Q3 FY23), where the operating revenue was INR 89.6 crore.
Noteworthy points from the report include the fact that 40.3% of the total operating revenue was generated through hotels and packages bookings, which saw a robust growth of 23.4% INR Rs 44.5 crore in Q3 FY24 from INR 36.06 crore in Q2 of the same financial year. Revenue from air ticketing also increased by 5.9% to Rs 41.5 crore during the same period. The remaining revenue of INR 24.3 crore came from other operating services and advertising income, including hosting ads on its website, the sale of coupons and vouchers, and facilitating website access to a travel insurance company.
Yatra’s overall expenditure increased by only 3% to INR 117 crore during Q3, up from Rs 113.6 crore in Q2 FY24. Notably, the company managed to control its expenses, resulting in a profit of INR 1.06 crore in Q3, a significant turnaround from the INR 17.13-crore loss in the previous quarter (Q2 FY24) and the INR 5.6 crore loss in the same quarter last year (Q3 FY23).
For the nine-month period from April to December 2023, Yatra registered INR 314.6 crore in revenue from operations, accompanied by a loss of INR 10.08 crore. Since entering the Indian public market in September of the previous year, Yatra has shown resilience, with a market cap of over INR 2,700 crore and a current share price of INR 170. Additionally, the company is listed on NASDAQ with a share price of USD 1.64 and a market cap of USD 105 million.
